U.S. Innovation and Competition Act of 2021 Must Safeguard Intellectual Property and Cybersecurity

Last week the U.S. Senate progressed legislation aimed to boost the national technology sector when senators voted 68-30 to move the U.S. Innovation and Competition Act of 2021 nearer to becoming law.

While industry welcomes the Act, which has the potential to deliver sweeping change in technology, there are calls to ensure that the protection of intellectual property and cybersecurity are a fundamental part of the debate.

Investment is yet to be finalized but figures of up to $250 billion have been proposed and Cylynt is leading the call that the debate must not lose sight of how critical it will be to protect that investment, protect intellectual property, and safeguard against cyberattacks.

In the media, Ted Miracco, CEO and co-founder of Cylynt commented: “The FBI reports that intellectual property theft costs U.S. businesses billions of dollars a year. IP theft is not something that needs to be tolerated or accepted as part of doing business. It is a growing and systemic threat to the U.S. economy. The stakes could not be higher when it comes to protecting intellectual property and the debate must be prepared to address this.”