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White House Considering Laws Aimed At Stopping Trade Secret Theft

WhiteHouseThe White House is considering new laws and wants to work with allied governments on stopping theft of trade secrets from U.S. businesses, Reuters reports.

Doug Palmer writes the White House released a report that did not cite China by name, but Attorney General Eric Holder used a hypothetical example of a China-based hacker stealing source code as an example of trade secret theft.

Holder made the remark Wednesday as the White House released its strategy, according to Reuters.

According to Reuters, the White House plan includes working with other governments, using trade policy tools and increasing criminal prosecutions.

That plan also includes a 120-day review to see if the U.S. needs to pass new laws, Palmer reports.

General Motors, Ford, DuPontDow Chemical, Motorola, Boeing and Cargill are among several companies that have been victims of trade secret theft, according to Reuters.

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