Trump Delivers on Trade Secrets Despite Headwinds at Home

Speaking About News | 11/13/2019 | keichri
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Some laws merely protect potential individual or corporate victims. Trade secret laws protect the entire nation, but they are being challenged in a manner that could produce serious harm both to America’s economy and to its national security.

Information - Age - Century - Research - Development

In the information age of the 21st century, research and development is the new bedrock of the most successful companies, and, indeed, most successful nations. When the results of many years of research and extensive investment are stolen, the harm extends to the shareholders of a corporation and the taxpayers of a nation. But the harm doesn’t stop there. Corporations lose the incentive to further invest in innovation which could spark an entire economy. Taxpayers, particularly in the case of secrets with military application, are placed in the terrible situation of having paid for technology which an adversary will use to threaten their safety.

In an effort to counter large-scale theft of U.S. trade secrets by China, the Trump Administration announced the creation of its “China Initiative” in November 2018. One year later, statistics show that the Trump China Initiative has been a success. According to a recent examination by the Washington Times, the Department of Justice secured guilty pleas and convictions in eight trade secret cases last year and made indictments in 10 more cases involving individuals and entities linked to China. That’s a three-fold increase over the previous year.

Move - Part - President - Trump - Reviving

The move, part of President Trump’s successful reviving of the American economy, was a significant departure from the former Administration, which failed to charge a single individual for spying for China from 2013 to 2016. This lack of action came despite estimates that trade secret theft costs the U.S. as much as $540 billion each year. The crack down on Chinese trade secret theft represents another...
(Excerpt) Read more at: Speaking About News
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