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Chairman Moolenaar, Rep. Kim Lead Bill to Protect U.S. IP from Foreign Adversaries

Chairman Moolenaar, Rep. Kim Lead Bill to Protect U.S. IP from Foreign Adversaries
WASHINGTON, D.C.

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Chairman Moolenaar and Representative Kim have introduced a bill called the PAID Act to protect U.S. intellectual property from foreign adversaries. The bill aims to address the theft of American IP by entities affiliated with the Chinese Communist Party, Russia, North Korea, and Iran. The CCP and its affiliates are reported to steal up to $600 billion worth of U.S. IP and trade secrets annually. The PAID Act would increase transparency by allowing the identification of foreign adversary entities violating U.S. IP regulations and requiring the Secretary of Commerce to report such violations to Congress. This bill is crucial in protecting American businesses' competitiveness and national security.

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