China's Supreme People's Court has ordered a listed machine-tool maker and a former employee to pay over 380 million yuan ($57 million) for stealing trade secrets. The penalty is one of the largest in a technology-secret case in the country.
The substantial penalty underscores China's efforts to strengthen intellectual property protection, which could impact foreign companies operating in the country and signal a tougher stance on trade secret theft.
China's Supreme People's Court has imposed a significant penalty of over 380 million yuan ($57 million) on a listed machine-tool maker and a former employee for stealing trade secrets. This judgment represents one of the largest awards in a technology-secret infringement case within the country.
The former employee, identified as Tian Xianyin, has been sentenced to one year and 10 months in prison. Prosecutors stated that Tian Xianyin copied tens of thousands of technical files prior to his employment at Shenzhen Create Century Machinery Co. Ltd., a subsidiary of Guangdong Create Century Intelligent Equipment Group.
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