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06/27/2013 // West Palm Beach , Florida, US // JusticeNewsFlash // Justice News Flash // (press release)
Washington – A Chinese wind turbine company has been accused of stealing trade secrets from a software company based in the United States. As reported by the Associated Press (AP), the Justice Department announced Thursday that an indictment has been issued against Sinovel Wind Group and the three individuals who stand accused of stealing proprietary wind turbine software technology from AMSC, which is based in Devens, Mass. The company is formerly known as American Superconductor Inc.
Sinovel purportedly cheated AMSC out of over $800 million in connection with their downloading the American company’s software from a computer in Austria.
Daniel McGahn, AMSC’s president and CEO, is quoted by the AP as stating of the matter in a news release, “The fact that Sinovel has exported stolen American intellectual property from China back into the United States — less than 40 miles from our global headquarters — shows not only a blatant disrespect for intellectual property but a disregard for international trade law.”
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Url: http://justicenews.visionsmartnews.com/chinese-wind-turbine-company-accused-of-stealing-trade-secrets_9619.html News Source: JusticeNewsFlash.com – Press Release Distribution
