President Trump Calls for Protection of Intellectual Property

Intellectual property is an asset that is extremely valuable to a company and something that is very important to protect with the help of a business litigation law firm.

During his first State of the Union speech last month, President Donald Trump said he would protect American intellectual property. Although his administration has in the past accused China of trade abuses, President Trump did not directly mention the country in his speech, CNBC said.

According to the National Crime Prevention Council, more than 45 percent of all U.S. businesses have reported losses due to intellectual property theft, and the cost to companies is estimated at $250 billion a year.

The business litigation attorneys at PPK Law Firm in Miami counsel clients in domestic and worldwide protection and intellectual property risk management matters, including copyright, trademark, service marks, trade dress, trade secret, and internet-related issues.

President Trump said in his speech that “fair and reciprocal” trade was necessary, and that America would work to fix bad trade deals and negotiate new ones.

“We will protect American workers and American intellectual property, through strong enforcement of our trade rules,” he said.

In addition to chastising China for their unfair trade practices, President Trump has criticized trade agreements like the North American Free Trade Agreement with Canada and Mexico (NAFTA) and the Free Trade Agreement between the United States and South Korea.

Since President Trump was inaugurated last year, he has imposed tariffs on imported goods such as solar panels and washing machines and is considering new quotas on steel and aluminum.

In November 2017, President Trump told world business leaders at a forum in Vietnam, “We are not going to let the United States be taken advantage of anymore.

“I am always going to put America first, the same way that I expect all of you in this room to put your countries first,” he said.

At the same meeting, President Xi Jinping of China called for globalization and more open relations among countries.