PLEDGE NOW
Here and Now with Robin Young and Jeremy Hobson
Public radio's live
midday news program
With sponsorship from
Mathworks - Accelerating the pace of engineering and science
Accelerating the pace
of engineering and science
Wednesday, April 18, 2012

Massachusetts Firm Turns To Chinese Courts Over Stolen Technology

The Director of the National Security Agency is calling China’s industrial espionage campaign “the greatest transfer of wealth in history.”

And apparently it’s getting worse.

We’ve heard the concern of American businesses who partner with Chinese firms to build things only to find themselves pushed out of the partnership when the Chinese companies steal the American technology that made the building possible.

In March 2011, Massachusetts-based wind turbine designer American Superconductor Corporation lost its biggest customer, Chinese manufacturing partner Sinovel, and two-thirds of its $315 million revenue when Sinovel started using stolen copies of American Superconductor’s technology to make its own turbines, effectively cutting American Superconductor out entirely.

After announcing the loss, American Superconductor’s stock market value decreased by 40 percent in one day and 84 percent by the following September.

American Superconductor is now suing Sinovel in Chinese court for a total of $1.2 billion in damages for breach of contract, copyright infringement, and theft of trade secrets.

In a press release the company writes:

In total, AMSC is seeking to recover from Sinovel more than $1.2 billion for contracted shipments and damages in these cases, which stem from Sinovel’s contractual breaches and AMSC’s discovery of intellectual property theft by Sinovel employees.

Guest:

  • Michael Riley, reporter for Bloomberg

Please follow our community rules when engaging in comment discussion on this site.
Popular Stories
    Robin and Jeremy

    Robin Young and Jeremy Hobson host Here & Now, a live two-hour production of NPR and WBUR Boston.

    August 26 13 Comments

    A Recipe For Longevity? Beans, Friends, Purpose And Movement

    For nearly a decade, Dan Buettner has researched the places people live longest, healthiest and happiest.

    August 25 Comment

    Recipes To Celebrate National Sandwich Month

    From an end-of-summer tomato tartine to an Italian grilled vegetable sandwich, our resident chef shares her favorites.

    August 25 3 Comments

    Jimmy Carter’s Fight To Eradicate The Guinea Worm

    The former president and founder of The Carter Center said he wants the last guinea worm to die before he does.

    August 24 7 Comments

    An American Music Playlist From The Strokes’ Guitarist

    Albert Hammond, Jr., who was born in L.A. to two immigrants, answers the question, "What does American Music mean to you?"