Intellectual property (IP) — that covered by patents, trademarks, copyrights and harder-to-protect trade secrets — is now worth as much as 75 percent of the total value of major companies. But while the importance of these assets has grown, many businesses lag in their efforts to protect IP.
Categories
It is a problem that undermines the functioning of the free market and hinders economic development where it is most needed, says Leslie Benton, vice president of advocacy and stakeholder engagement at the Center for Responsible Enterprise and Trade (CREATe.org).
After leaving Geometric, the employee was caught trying to sell the software code to SolidWorks’ competitors. Because Indian law does not recognize the misappropriation of trade secrets, it was not possible to sue the individual. Since the source code belonged to SolidWorks — not Geometric — he technically had not stolen from his employer.