Trade secrets; theft of or trafficking, penalty. (HB1502)

Introduced By

Del. Scott Wyatt (R-Mechanicsville) with support from co-patrons Del. Dave LaRock (R-Loudoun), and Del. Wendell Walker (R-Lynchburg)

Progress

Introduced
Passed Committee
Passed House
Passed Senate
Signed by Governor
Became Law

Description

Theft of or trafficking in trade secrets; penalty. Provides that any person who willfully and without authorization obtains or uses, or endeavors to obtain or use, a trade secret, as defined in the bill, with the intent to either temporarily or permanently (i) deprive or withhold from the owner thereof the control or benefit of a trade secret or (ii) appropriate a trade secret to his own use or to the use of another person not entitled to the trade secret is guilty of a Class 6 felony. The bill also provides that any person who willfully traffics in, or endeavors to traffic in, a trade secret that he knows or should know was obtained or used without authorization is guilty of a Class 5 felony. The punishments for such violations increase to the Class 5 felony and Class 4 felony when such offenses are committed with the intent to benefit a foreign government, a foreign agent, or a foreign instrumentality. Read the Bill »

Outcome

Bill Has Failed

History

DateAction
01/03/2023Committee
01/03/2023Prefiled and ordered printed; offered 01/11/23 23102278D
01/03/2023Referred to Committee for Courts of Justice
01/04/2023Impact statement from VCSC (HB1502)
01/23/2023Impact statement from DPB (HB1502)
02/07/2023Left in Courts of Justice