A new strategy to prevent theft of U.S. trade secrets was announced Wednesday by the Obama administration after reports surfaced of the Chinese military operating a cybertheft circle, according to USA Today.
The Strategy on Mitigating the Theft of U.S. Trade Secrets was presented a week after President Obama signed an executive order, which was intended to improve U.S. computer networks against the attacks.
More than 140 U.S. companies accused Chinese military of cyber attacks against them.
The new plan includes working with industries in the best of their conveniences to protect their trade secrets, diplomatic contacts with nations where trade secret theft rate are higher, and strengthen the prosecution of business espionage.
The government of People’s Republic of China did not admit the involvement in the cyber attacks. The Chinese government claimed those attacks were traced back to U.S.
“Trade secret theft can cripple a company’s competitive advantage in foreign markets, diminish export prospects around the globe, and put American jobs in jeopardy,” said Victoria Espinel, the U.S. intellectual Property Enforcement Coordinator, according to USA Today.