Trade Secrets and Patents: A Great IP Combo
It is not as simple to say — trade secret or patent. In fact, trade secrets and patents can work together to ensure companies the broadest possible protection — and increase your company’s value. Trade secrets and patents provide different forms of protection and protect different types of information. A patent has a term of 20 years, while protection for a trade secret can last indefinitely. A patent gives you the exclusive right to prevent others from commercially exploiting the invention during the life of the patent. This is provided in exchange for the full disclosure of the invention. A trade secret, on the other hand, is not disclosed, and therefore can last indefinitely so long as certain steps are taken to ensure the secrecy of the trade secret.
C-Suite Ignoring Smart Factory Cyber-Threats
Human negligence, cyber skills gaps and disinterested C-level execs are putting manufacturing firms at an escalated risk of serious breaches, according to Capgemini.
The global consultancy collected responses from cybersecurity leaders in 950 organizations to compile its report, Smart & Secure: Why smart factories need to prioritize cybersecurity.
It revealed that while over half (51%) of respondents predicted the number of attacks on smart factories would increase over the coming 12 months, a similar number (47%) claimed security is not a C-level concern in their organization.
Chinese Company’s Purchase of North Dakota Farmland Raises National Security Concerns in Washington
The nearest neighbors include a crop production company, a truck and trailer service outfit, and Patio World, which sells landscaping supplies for suburban backyards.
But when the three North Dakotans who owned the parcels of land here sold them for millions of dollars this spring, the transaction raised alarm bells as far away as Washington, D.C.
That’s because the buyer of the land was a Chinese company, the Fufeng Group, based in Shandong, China, and the property is just about 20 minutes down the road from Grand Forks Air Force Base — home to some of the nation’s most sensitive military drone technology.
Boeing Takes Issue with Massive Chinese Airbus Order
Points of contention range from business issues such as corporate espionage and trade, to China’s human rights record and increasingly aggressive foreign policy. Moreover, US efforts to deepen regional alliances to counter China’s massive arms buildup and sweeping territorial claims have irked Beijing, as have US arms sales – including equipment produced by Boeing Defense, Space & Security – to Taiwan.
TikTok Confirms Employees Outside US can View Private User Data
TikTok has confirmed that employees outside the United States could access U.S. user data, a revelation that appears to validate many concerns regarding China’s access to the app’s data.
The confirmation was offered in a response letter sent by TikTok CEO Shou Zi Chew to nine Republican senators, including Ted Cruz (R-TX) and Marsha Blackburn (R-TN). The letter addressed a series of economic and security concerns after a Buzzfeed News report revealed that the company’s Chinese employees were able to access U.S. user data.
Series: Remedies Available to Companies Harmed by Industrial Espionage
Section 1832 of the Economic Espionage Act of 1996 (the “Act”) criminalizes the theft of trade secrets “intended for use in interstate or foreign commerce, to the economic benefit of anyone other than the owner.” 18 U.S.C. § 1832(a). The Defend Trade Secrets Act of 2016 (the “DTSA”) amends the Act to include a civil cause of action for the misappropriation of trade secrets. 18 U.S.C. § 1836(b)(1). Thus, victimized individuals or corporations whose trade secrets were stolen may seek an injunction, monetary damages, or attorneys’ fees. In extreme cases, parties may seek an ex parte seizure to prevent the misuse of stolen trade secrets.