China’s New IP Policy Could Cost US Companies Billions

By Nathaniel DeLucia

The Chinese government recently announced a new policy aimed at limiting their dependence on foreign technology.  The policy will require all Chinese banks to turn over the source code for all the various software and technology the banks may utilize.  The idea is to identify foreign source code and replace them with local software products.  This comes as part of a larger plan to eliminate foreign technology from banks, state-owned enterprises and the military by 2020.  If the policy succeeds, U.S. companies may not be able to sell their software products to these lucrative industries.

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