Certified Fraud Examiner Practice Exam 2025 – All-in-One Guide to Master Your Certification!

The Economic Espionage Act (1996) was a landmark piece of legislation aimed specifically at addressing the growing concern of economic espionage and the theft of trade secrets. By criminalizing the unauthorized appropriation of proprietary information for commercial advantage, the Act provides law enforcement with the authority to take significant action against individuals or entities engaged in this illegal activity. This includes not only corporate espionage but also any form of theft related to trade secrets, thereby enhancing the protection of intellectual property in the United States.

The primary goal of this law is to foster an environment of fair competition and innovation by ensuring that businesses can protect their sensitive information from being unlawfully acquired by competitors or foreign entities. Therefore, the assertion that it outlawed economic espionage and theft accurately reflects the intent and consequences of the Act.