Give an account of the Economic Espionage Act and its importance in combating cyber piracy.

Question

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The Answer is Congress enacted the federal Economic Espionage Act (EEA), which makes it a federal crime to steal another's trade secrets. Under the EEA, it is a federal crime for any person to convert a trade secret to his or her benefit or for the benefit of others, knowing or intending that the act would cause injury to the owner of the trade secret. One of the major reasons for the passage of the EEA was to address the ease of stealing trade secrets through computer espionage and using the Internet. Confidential information can be downloaded onto a CD or Flash drive, placed in a pocket, and taken from the legal owner. Computer hackers can crack into a company's computers and steal customer lists, databases, formulas, and other trade secrets. The EEA is a very important weapon in addressing computer and Internet espionage and penalizing those who commit it. The EEA provides for severe criminal penalties. The act imposes prison terms on individuals of up to fifteen years per criminal violation.

Give an Account of the Economic Espionage Act and Its