The impact of malicious cyber activity from all sources, not just China.
Posted on 06/13/2019 10:58:52 AM PDT by SeekAndFind
As President Donald Trump says his administration is moving closer to a trade deal with China, one of the major sticking points has been China’s disregard of intellectual property protections and claims dating back years about rampant Chinese theft of corporate trade secrets. The allegations are not hyperbole.
One in five North American-based corporations on the CNBC Global CFO Council says Chinese companies have stolen their intellectual property within the last year. In all, 7 of the 23 companies surveyed say that Chinese firms have stolen from them over the past decade.
As the Trump administration works on a trade deal with China and hundreds of billions in potential tariffs loom if a deal can’t be reached — Trump has delayed the tariffs scheduled for Mar. 1 based on “significant progress” he said is being made — the issue of IP theft has been a huge sticking point.
The CNBC Global CFO Council represents some of the largest public and private companies in the world, collectively managing nearly $5 trillion in market value across a wide variety of sectors. The survey was conducted between Feb. 7 and Feb. 22 among 54 members of the council located across the globe, including the subset of North America-based chief financial officers.
(Excerpt) Read more at cnbc.com ...
Partner with the Chinese Communist Party and you get screwed
100% of companies with IT assets on the Internet have been targeted by Chinese hackers.
“1 in 5 corporations say China has stolen their Intellectual Property within the last year”
Four in five corporations are either ignorant of the theft or they’re lying about it.
You’re probably right there.
You can remove the word “probably”. The uncertainty level on this one is zero.
Property is Theft, They expropriate from the expropriators like good Communists do. What did they expect?
Kinda like the May 5 (May Day) Protest march on Wall Street. The sign read, “Wall Street, we want our money back!” (Also said by Obama Jan 14, 2010)
Thanks for the mention.
It’s not an issue I’m challenging.
It isn’t just that. They’re weaponizing IP law against American companies.
My boss received a claim against him for a product design. Our data sheet had a date several old. They said their product goes back two or three years further. They said we’re infringing on their intellectual property rights, based on a design likely stolen from an American company ten years ago.
My boss dug out an old magazine showing the same design that he’s made for twenty years. The data sheet was simply the latest version of said product. The article had his name, the date and description. He sent a copy of that to the foreign attorney, and they shut up.
Most people don’t have that author’s shelf as proof they’re the real creators.
They didn’t invent these things on their own. They sent people here to get jobs, and this country stupidly let them get jobs here.
Heck, Slick Willy gave it away...
https://www.nytimes.com/1999/05/11/world/clinton-approves-technology-transfer-to-china.html
Seems a low number, though that is just the companies doing business over there?
Go to any trade show (example, Blade 2019 last weekend), and companies that do not manufacture over there see a fair amount of traffic by Asians, possibly Chinese (would be smarter to suborn Caucasians for this) taking pictures, collecting swag, and even buying exemplars.
For the companies that manufacture over there, it is easier and much of the lower cost chinesium product is from out the back door templates.
Just an observation, YMMV
KYPD
Yes - we also MUST deport all non-naturalized Chinese nationals working in tech.
Have they stolen it or did the Chinese come in there, offer them gobs of cash, and as part of the deal had the rights to everything under the roof? Did the greed of the companies owners and corporate boards take precedence over safeguarding their intellectual property?
And as the prostitute collects her fee off the bedside table, she dares complain that the John stole her innocence.
It’s not theft.
It’s compulsory transfer for market access.
It’s awful and it needs to stop.
Failure to stop it means that Chinese can sell to us freely but not the reverse.
Trump is trying hard.
Members of both parties in Congress need to support Trump and our companies.
We are fighting economically against a Communist country, and meanwhile we have a Communist running for President, and one of his associates running her mouth pushing socialism from within our House of Representatives. This after >50,000 Americans died fighting the spread of Communism in Vietnam.
Thanks for the mention.
I appreciate it.
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