China rules record compensation for technology theft
BEIJING - China's top court ordered a record high compensation of 159 million yuan (around $24.6 million) for the theft of technology secrets in an appeal case on Friday.
It is believed to be the largest compensation that the country's courts have awarded in commercial secret infringement disputes, according to the intellectual property tribunal of the Supreme People's Court (SPC).
A chemical producer based in East China's Zhejiang province was found guilty of stealing technology secrets about vanillin from another company based in the same province and shall pay the sum in compensation to the obligee, the tribunal said in its ruling.
China has established specialized courts and tribunals in recent years to enhance IP protection and toughen the crackdown on the infringement of related rights.
The SPC intellectual property tribunal was launched in January 2019 to hear appeals on patents, monopolies and other technology-related IP cases.
Vanillin, a popular flavoring agent, is widely used in foods, beverages and pharmaceuticals.
