Although many U.S. companies have experienced broad success in China, intellectual property rights infringement still runs rampant in the country, undermining their competitiveness, say a U.S. International Trade commission study.
In response to an ITC survey, many U.S. firms reported lost sales, profits, and license and royalty fees, as well as damaged brand names and product reputation, as a result of IPR infringement in China.
The ITC report, the second of two reports on IPR infringement and indigenous innovation policies in China and their effects on the U.S. economy and employment, was released Wednesday. The independent, nonpartisan, fact-finding federal agency conducted the studies at the request of the U.S. Senate Finance Committee.
