Economic Espionage Act (EEA)
What is the Economic Espionage Act (EEA)
EEA is the Economic Espionage Act. It was designed by Congress with the goal of making misappropriation of trade secrets a federal crime. It is extremely important to make this law a key component in your disposal process or your business could face some pretty significant penalties otherwise.
Who is subject to EEA compliance?
The new law requires both businesses and employees to take immediate measures to protect themselves from non-compliance, and from falling victim to this crime. Due to the fact that this is a criminal law, the cost of making a mistake could potentially lead to jail time. U.S. organizations are well informed, both from an offensive and defensive viewpoint to recognize and understand exactly how the EEA is being enforced and to ensure that they never violate its requirements. It’s important that companies also take adequate measures to make sure that their own trade secrets remain secure and protected.
What are my Rights Under EEA?
Section 1839 of the EEA states that the owner of a trade secret must take reasonable measures to keep the information protected. While such measures will differ depending on the circumstance, such measures may mean advising employees of the trade secret nature of the information, mandating employees and other recipients to sign confidentiality agreements, marking documents confidential, limiting access to a “need-to-know” basis or a sign-out basis only, and storing trade secret information in a secured, protected facility.
Who does EEA Protect?
The Economic Espionage Act help victims of Economic Espionage protect their trade secrets. The Act contains a unique provision to safeguard the disclosure of trade secret information during the criminal justice process.
Why is EEA Important?
The Economic Espionage Act of 1996 (the “EEA”) makes it a federal crime to obtain, download, receive or possess trade secret information that is taken without the owner’s consent. If an employee or contractor working for your business allegedly has trade secret information without authorization, you could face legal penalties that result in fines close to $10 million. Furthermore, you may have to forfeit to the US government any property, such as computer equipment, used to perform or carry out the commission of the EEA violation.
Where can I find more information about The Economic Espionage Act?
To learn more, visit this link: https://www.law.cornell.edu/wex/economic_espionage
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Neda A.10/08/2021Very quick and easy process. I got a quote from Michael. He was responsive and patient . I remembered in the last minute that I... read moreVery quick and easy process. I got a quote from Michael. He was responsive and patient . I remembered in the last minute that I put a hard drive with the papers for shredding and he had to fish for it in the shredding bin. He also shredding everything in front of me, which I really appreciated. read less
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B P.10/07/2021From my first conversation with Angel, I knew this was a professional, customer oriented company. When you call you speak directly with the owner.... read moreFrom my first conversation with Angel, I knew this was a professional, customer oriented company. When you call you speak directly with the owner. Angel was thorough with service and pricing structure details. She had me set up to receive service within days. Drivers are professional, friendly, neatly dressed, and most importantly to me --they showed up when promised! Response to questions or changes to service were answered by Angel - the owner! If you are in the Bay Area looking for a certified, local shredding service, call ProShred! read less
B P.10/07/2021I had a 40-50 boxes of very old records including Xrays that needed to be disposed of. Angel was quick to respond to all my... read moreI had a 40-50 boxes of very old records including Xrays that needed to be disposed of. Angel was quick to respond to all my inquiries. We delayed the process for more than a year due to COVID but ultimately PROSHRED came through.
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Thanks Angel and PROSHREAD. read lessSilence B.9/15/2021
