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China Is Stealing U.S. Intellectual Property, Costing U.S. Billions

September 25, 2011 In Blog, Counterfeit, International IP Law By Brandon Reiner

China Is Stealing U.S. Intellectual Property, Costing U.S. Billions

Treasury Secretary Geithner says that China is stealing intellectual property from the United States.  “We’re seeing China continue to be very, very aggressive in a strategy they started several decades ago, which goes like this: you want to sell to our country, we want you to come produce here … if you want to come produce here, you need to transfer your technology to us,” Geithner said.

As Reuters reports, piracy and counterfeiting of U.S. software and a wide range of other intellectual property in China cost U.S. businesses alone an estimated $48 billion and 2.1 million jobs in 2009.

Yikes, that’s a lot of Prado, Guchi, and Burbarry handbags.

Brandon Reiner

Brandon Reiner is a second year student at Fordham University School of Law. He received a Bachelor in Business Administration in both Finance and Real Estate from the University of Wisconsin. Brandon is interested in working in a field of law that combines his law degree and his undergraduate majors.