Obama signs bill to deter theft of trade secrets

Previously, U.S. businesses could seek amends in state courts for trade secret thefts, but taking a civil case to a state court can prove more time consuming than going to a single federal judge, particularly when a defendant has crossed multiple state lines and multiple jurisdictions get involved.

Obama used the Oval Office signing ceremony to renew his pitch to lawmakers that they pass a free-trade agreement with countries in the Asia-Pacific region, saying the trade deal would require participating countries to have to work with the U.S. to protect the theft of trade secrets.