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President Trump recently signed an executive memorandum intended to catalyze an investigation into China’s alleged theft of U.S. intellectual property (IP). The order is a first step in the attempt to solve the annual cost of IP theft to the U.S – a figure that may be upwards of $600 billion.
The initiative is rooted in a persistent issue that has left many American patent holders questioning whether it’s even worth defending their IP rights against rampant patent infringement, technology theft, and counterfeiting in China. The memorandum aims to address this decades-long struggle and could lead to some important considerations for multinational businesses wanting to protect their IP in China.