Intellectual Property Dispute Looms in U.S.-China Trade Rift
As the United States and China continue to dig their heels into an ongoing trade debate, intellectual property questions remain a key element of the tensions between the two countries. The intellectual property lawyers at our firm are keeping a close watch on these developments.
The focus of late has been on U.S. tariffs on Chinese products on one hand, and China’s efforts to devalue its currency on the other. President Donald Trump’s administration recently tagged China as a currency manipulator, a designation that experts fear will only ramp up the bad blood between the countries.
Meanwhile, there appears to be little if any agreement on a related rift over intellectual property.
U.S. officials say China’s lax approach to protecting intellectual property rights costs American companies as much as $600 million per year. One in five U.S. companies complain that China has allowed their patents, copyrights, trademarks and trade secrets to be pilfered in the last year. That cuts into royalties and other fees that the businesses would otherwise be entitled to for the use of their intellectual property.
Critics of the Chinese legal system point to a number of factors that leave intellectual property ripe for the picking. They say the judicial process favors nationals over foreign IP holders, makes it difficult to get the evidence needed to prove theft and tends to allow for relatively small money damages awards in the event that a legal violation is actually proved.
Some go as far to say that Chinese companies use the country’s legal system to force American competitors to essentially transfer their technological advances to businesses in communist nation. They point to recent cases in which Chinese courts have ordered subsidiaries of American companies to stop selling products or using technology that Chinese companies claim patents on, often with little or no notice to the American companies.
Speak With an Experienced Intellectual Property Lawyer Today
If you or your business has been victimized by intellectual property theft, the attorneys at Glancy Prongay & Murray can help. Any intellectual property lawyer at our firm has the experience needed in the courtroom and at the negotiating table to ensure that our clients’ rights are protected.
At Glancy Prongay & Murray, our firm has an extensive track record of optimal results for the people and businesses that we represent. Our lawyers understand the significant impact that intellectual property theft and other legal violations can have on an individual or company. We take pride in a personalized and proactive approach, taking the time to understand each client’s unique individual needs.
We also offer a number of fee arrangements to share the financial risk with our clients. That includes partial and full contingency arrangements in many cases. Call us at (310) 201-9150 or contact us online to speak with an attorney today.