The National Bureau of Asian Research (NBR) recently interviewed CREATe.org’s President and CEO Pamela Passman, who is also on the board of directors for NBR. In the discussion, she spoke about the threat posed by trade secret theft and the implications for intellectual property rights (IPR). Trade secret theft costs companies billions of dollars, with losses extending “to jobs, innovation capability, and economic growth in countries as well.”
Ultimately, Passman said, the goal should be to increase the protection of IP through more effective enforcement by governments and increased vigilance and care on the part of companies. Companies need to thoroughly assess their trade secret policy and enter into strong contractual relationships that include both legal and operational measures.
Passman concluded the interview by emphasizing the importance of IP protection and corruption prevention and also pointed towards a way to address these issues, “It’s also imperative that multinational companies understand that one of the most promising solutions to these challenges already exists via global supply chains. MNCs and their global supply chains comprise 60% of global trade in goods and represent tremendous opportunity for strengthening compliance.”
About NBR: The National Bureau of Asian Research “conducts advanced independent research on strategic, political, economic, globalization, health, and energy issues affecting U.S. relations with Asia…The National Bureau of Asian Research is committed to advanced independent research on issues affecting U.S. relations with Asia.”