FRIDAY HARBOR, WA--(Marketwired - Apr 10, 2015) - The INVNT/IP Global Consortium , a Strategic News Service global initiative, has issued a strong public endorsement of President Barack Obama's presidential order leveling sanctions against those who steal corporate trade secrets. It applauds and supports the President and Michael Daniel, Special Assistant to the President and Cybersecurity Coordinator, in their work to curtail the ongoing epidemic of other nations stealing America's "crown jewel" intellectual property. The Consortium has now shown that this practice does irreparable harm to the US and global economy, and believes that President Obama's Executive Order 13964 , signed on April 1st, is the first major step in a difficult path toward more equitable global competition for innovating US firms.
INVNT/IP internal research shows that Chinese cyber espionage -- an ongoing nation-sponsored project targeting crown-jewel intellectual property in firms worldwide -- caused at least USD 2.27 trillion in damages to the US economy in just four economic subsectors between 2003 and 2013.
Non-classified INVNT/IP information indicates that the People's Republic of China is responsible for 80% to 90% of the theft of crown-jewel intellectual property. Our work further shows that Chinese state-sponsored groups are currently targeting innovating firms in 402 different sectors specifically chosen by the Politburo Standing Committee, seeking to steal and "digest" the intellectual property of leading firms and government bodies in the United States and abroad.
The Consortium anticipates that the President's order paves the way for further action regarding the issue of economic espionage perpetrated against US firms and government organizations. In declaring such theft a national emergency, the directive authorizes strict economic consequences, including seizure of assets, restriction of travel, and prosecution by the Treasury and Attorney General in cases of significant financial harm to US interests through malicious cyber activity.
"The INVNT/IP Consortium encourages both parties in Congress to take additional steps in this direction, united by the understanding that technology drives the global economy, and state-sponsored theft of crown-jewel secrets is a direct attack on American jobs, families, companies, and the nation's economic security.
"We fully support the President in this action and applaud his leadership in identifying the Number One threat to American workers and business owners today. Stealing corporate trade secrets is a calculated, illegal activity which has already destroyed entire global economic sectors, creating trillions of dollars in permanent damage to American towns and cities, our most innovative companies, and the country itself. The competitive struggle so often described today between the US and China is not one of legitimate competition, but rather is a battle between thieves and victims. This has to stop, and the President's order is a great first step," said Mark Anderson, CEO of the INVNT/IP Consortium.
INVNT/IP represents the world's top technology companies in working with lead government agencies and universities worldwide to protect "crown jewel" intellectual property. The Consortium conducts active programs for the promotion of IP value recognition and protection through cooperation among its corporate members and global government network. It currently operates in Australia, the US, the UK, and the EU.
For more information about INVNT/IP, visit the website: www.invntip.com .
Strategic News Service was founded by Mark Anderson in 1995 as the first subscription-based online news service. Since its inception, SNS has proven the most accurate predictive report covering technology and the global economy. Its subscribers include top managers at technology and finance companies across the globe, including Oracle, Microsoft, HP, Dell, Cisco, Intel, Google, British Telecom, SpaceX, Amazon, Telstra, and others.
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Press Contact : Sally Anderson Strategic News Service sally@stratnews.com
