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President Trump Vows to Protect Intellectual Property


By
Smith & Hopen PA

On August 14, 2017, President Trump signed a memorandum addressing a need to protect American citizens and businesses from intellectual property theft and unfair trade practices. Trump acknowledged the fact that U.S. intellectual property holders are repeatedly victims of forced-transfers and intellectual property theft by certain foreign governments, with specific reference to China. Trump’s memorandum directs the U.S. Trade Representative to investigate China’s actions as an initial step to correcting these wrongs.

This investigation will hopefully lead to increased safeguards for American intellectual property holders, which will ultimately benefit the American economy. As reported by the Economics & Statistics Administration, intellectual property-intensive industries accounted for roughly 30% of all American jobs and contributed to almost 40% of the GDP in 2014. With additional safeguards in place, we could see an increase in these numbers. For now, the Trump Administration is simply investigating the actions of the Chinese government with respect to the theft and forced-transfers of American intellectual property, but this is a step in the right direction in safeguarding American intellectual property rights and, ultimately, the American economy. 




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