In an escalating push against the alleged intellectual property theft by China, Congressman Roger Williams (R-TX), Chairman of the House Committee on Small Business, and Congressman Mike Gallagher (R-WI), Chairman of the Select Committee on the Chinese Communist Party, have called upon the Department of Justice (DOJ) for greater insight into the situation. They seek to assess the DOJ’s efforts in combating the purported theft and its subsequent impact on small businesses across America.
“Thanks to the efforts of the Chinese Communist Party, Main Street America is growing increasingly vulnerable to the intellectual property theft of cutting-edge technologies,” Chairman Williams stated. He further emphasized that the estimated cost of this theft to taxpayers is a whopping $600 billion per year.
In the context of small businesses, these figures are deeply concerning. The backbone of the US economy, small businesses are pivotal in driving innovation and growth. Intellectual property theft on this scale is not only a threat to the financial security of these enterprises but is also a serious blow to national innovation and security assets. Williams stressed the need for Congress to pressurize the Biden administration to take more robust measures in protection of the country’s innovation and national security.
Echoing the same sentiment, Chairman Gallagher said, “Small businesses are on the front lines of the economic war that the Chinese Communist Party is waging against America.” These businesses, critical to the American economic framework, find themselves in a precarious position, directly exposed to the economic coercion exerted by the Chinese Communist Party.
Both Williams and Gallagher are keen to learn more about the measures that Attorney General Merrick Garland has in place to safeguard American businesses against the Chinese Communist Party’s intellectual property theft. They expressed their eagerness to explore additional ways in which Congress can further shield small businesses from such economic exploitation.
As a sign of solidarity, all members from both the House Committee on Small Business and the Select Committee on the Chinese Communist Party have endorsed the letter addressed to Attorney General Garland.
The Congressmen have requested a detailed briefing, slated to be held no later than June 30th, to discuss the Department’s efforts in safeguarding American small businesses from the alleged malign behavior of the Chinese Communist Party.
As the conversation surrounding Chinese intellectual property theft intensifies, it becomes increasingly crucial for small business owners to stay informed. The outcome of these discussions and subsequent actions could dramatically impact the way small businesses operate and safeguard their intellectual property assets. The steps taken by the DOJ could set a precedent for future interactions and relations with China, making this an issue of significance not only for small business owners but for the larger economic landscape of the nation.
Image: Depositphotos
This article, "US Congressmen Push DOJ for Action Against Chinese IP Theft" was first published on Small Business Trends