Intellectual property (IP) laws in foreign jurisdictions are increasingly relevant to U.S. companies as the consumer market becomes more globalized and web-based. China is currently the leading e-commerce market in the world, with sales totaling $426.26 billion in 2014. Additionally, Chinese e-commerce sales are expected to increase by another 42.1 percent to $672.01 billion in 2015. Predictions based on China’s current growth rates suggest that it will become a $123 trillion market by 2040.
The Chinese Congress has worked to strengthen patent rights through a series of reforms over the past two decades to encourage further economic growth and trade. One of the most recent of these reforms is the proposed Fourth Amendment to the Chinese patent law. This amendment will impact U.S. companies’ choice between maintaining inventions as trade secrets or applying for patent protection. This article will: (1) highlight some of the trade-offs and strategic considerations in creating international IP portfolios and (2) analyze the extent to which the proposed Fourth Amendment might impact such IP strategies for U.S. companies.
Patents vs. Trade Secrets
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