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FSU Hosts Panel About China Stealing Intellectual Property

China
China
Posted at 6:48 PM, Aug 30, 2017
and last updated 2017-08-30 15:07:44-04

TALLAHASSEE, FL (WTXL) -- It was standing room only at FSU's conference center Wednesday afternoon as a panel of speakers spoke about how China is actively stealing ideas and intellectual property from Americans.

This practice, known as "Indigenous Innovation" in China states that their goal is to tweak foreign technology.

Some examples of this kind of theft include anything from technology and software to counterfeiting fashion productions, sculptures, and pirating the music industry.

When something like this happens, it costs American companies over 600 billion dollars a year with millions of jobs lost. 

This town hall panel comes after President Trump announced a formal investigation into China's practices.