Call for tougher penalties to stop trade secret theft

Original article by Andrew Tillett
The Australian Financial Review – Page: 5 : 5-Jul-18

The federal government’s new espionage and foreign interference impose criminal penalties for theft of trade secrets on behalf of foreign interests. However, Australian Industry Group CEO Innes Willox argues that more legislative action is needed to protect against the domestic theft of commercial trade secrets. Clayton Utz partner John Collins notes that Australia has traditionally treated the theft of trade secrets as a commercial issue that attracts civil remedies, although he says there is potential for criminal penalties to be introduced in the future.

CORPORATES
THE AUSTRALIAN INDUSTRY GROUP, CLAYTON UTZ, LAW COUNCIL OF AUSTRALIA, FEDERAL COURT OF AUSTRALIA, SUPREME COURT OF NEW SOUTH WALES, AUSTRALIA. ATTORNEY-GENERAL’S DEPT, UNITED STATES. EXECUTIVE OFFICE OF THE PRESIDENT, BOEING COMPANY

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