Ongoing Trade Negotiations Will Result in 'Wider' IP Distribution, Says USTR's Holleyman
President Barack Obama has the “most ambitious trade agenda in history,” said Deputy U.S. Trade Representative Robert Holleyman at the U.S. Chamber of Commerce Global IP Center Summit Nov. 18. The present negotiations on the Trans-Pacific Partnership (TPP) and Transatlantic Trade and Investment Partnership (TTIP) are the centerpieces of that agenda and highlight the central role of IP in trade, he said. Such IP issues include the theft of trade secrets, he said. Current TPP proposals will “ensure” that copyright holders will have “wider and deeper” distribution of their products in partnering countries, Holleyman said. TTIP is in an “earlier stage” of negotiations, he said. That agreement will “build on the common strengths” of European partners to address global IP issues, he said. There’s a “very active dialogue” between the Administration and Congress on how to “expedite” both negotiations, Holleyman said.
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The White House is “strongly favoring a private right of action” for trade secrets, said Alex Niejelow, White House IP enforcement coordinator chief of staff during the same event. A “modern” trade secrets law wouldn’t just help the U.S., but also would serve as an “example” for other countries, like Japan and the EU nations, said Thaddeus Burns, General Electric senior counsel. Trade secrets support a “huge” number of jobs, and have around a $5 billion value to the U.S. economy, said Ted Schroeder, chief counsel to Sen. Chris Coons, D-Del. Billions of dollars are lost annually due to trade secret theft, he said.