Record Breaking Judgement in Trade Secret Case

Summary In this episode, Tim and Chris discuss a recent trade secret misappropriation case in China, which resulted in a record-breaking judgment of 640 million RMB (about 88 million USD). They highlight the significance of this case in recognizing the value of trade secrets and protecting companies from misappropriation. The case involved a wholesale movement of 40 employees from one Chinese electric vehicle company to another, resulting in the filing of 12 patent applications by the new company. The court considered factors such as the quick release of products and the publication of patents to establish the misappropriation of trade secrets. The discussion also touches on the challenges of enforcing judgments and the evolving legal landscape in China. Takeaways The recent trade secret misappropriation case in China resulted in a record-breaking judgment of 640 million RMB, highlighting the increasing recognition of the value of trade secrets in the country. The case involved a wholesale movement of 40 employees from one Chinese electric vehicle company to another, leading to the filing of 12 patent applications by the new company. Factors such as the quick release of products and the publication of patents were considered by the court as evidence of trade secret misappropriation. Enforcing judgments and recovering damages in trade secret cases can be challenging, and it remains to be seen how the awarded damages will be paid in this case. The evolving legal landscape in China demonstrates the country's commitment to improving its IP protection and legal system, driven by domestic companies' need for protection from both domestic and international competitors.