Selecting the right contract manufacturing partner can make or break your business, especially if there’s the potential for your intellectual property to fall into the wrong hands. Stolen IP costs the U.S. economy billions in revenue and there is little that American companies can do to find justice.
According to the United States Trade Representative, “Chinese theft of American IP currently costs between $225 billion and $600 billion annually.” Forced technology transfer is also a growing concern for US companies, especially companies in the technology and medical space.
One of the most recent high profile examples of theft of US intellectual property happened this past January, when a Chinese-based wind turbine company was found guilty in the US of stealing trade secrets, using secretly downloaded source code stolen from a U.S. company. This nearly bankrupt the company.
“China has sought to acquire US technology by any means, licit or illicit,” said James Andrew Lewis, the Senior Vice President at the Center for Strategic and International Studies in Washington. “Espionage and theft were part of this, but so were forced technology transfers or mandatory joint ventures as a condition for doing business in China.”
REDCOM EMS can mitigate these problems with our secure, NIST-compliant manufacturing facility located in western New York state. Not only do we manufacture domestically, but we also keep all of our sales, service, engineering, and project managers on-site as well. Whenever possible, we use local, regional, and U.S. suppliers for all raw materials, components, expendables, and services necessary to the operation of our business.
Protect your intellectual property and trade secrets by partnering with a trusted CM such as REDCOM EMS.