Intellectual property concerns patents, trademarks and trade secrets, copyrights and copyrighted works. Because it is so valuable to companies, legislators design laws concerning intellectual property in order to protect inventors, authors, musicians and authors. Yet concerns of intellectual property theft in China continue.
We've written in the past about efforts Chinese officials have made in curbing intellectual property violations. Yet preventing trade secret theft has proven to be no easy task.
As of January 1, 2019, China’s supreme court will handle intellectual property cases. This development came about as the ongoing trade war between the United States and China continues.
Trade disagreements between China and the U.S. seem to center on intellectual property issues. The U.S. and a number of European countries maintain theft of intellectual property at the hands of Chinese businesses and officials is continually occurring. For this reason, many companies are reluctant to do business there.
There’s been a great deal of talk concerning cybersecurity rules recently issued by Chinese officials. These rules greatly concern American businesses who wish to avoid the surrendering of trade secret information and other confidential materials.
Even after completion of the current trade deal with China, concern over intellectual property will continue. Because of the complexities of this issue, the current trade deal will not end potential IP theft.
There have been a wide variety of intellectual property concerns for companies doing business in China. Despite such concerns, China does appear to be taking steps to improve its reputation. Also, many American companies are acknowledging extensive growth in revenues due to doing business there.
Intellectual property protection concerns play an important part in the discussion regarding the trade war between the U.S. and China. This is because the technology and ideas a company create are among its most valuable assets.
Intellectual property is a company’s most valuable asset. Protecting trade secrets keeps others from stealing their profits. It also allows companies to compete. For this reason, concerns about IP theft taking place in China need to be taken seriously.
Chinese officials have a number of tools at their disposal to force American companies to turn over its intellectual property. Sometimes Chinese business partners will gain access to the technology. In other instances, the Chinese government itself can demand the turning over of trade secrets information.