The United States federal government has initiated legal proceedings against a former executive of Siemens, charging him with theft of trade secrets from both GE and Mitsubishi. The case was lodged in a Virginia federal court this Tuesday. Allegedly, the stolen information was deployed to undermine competitive efforts by GE and Mitsubishi to swing the construction of a Dominion gas turbine plant in their favor.
The prosecution is a reminder that the governmental authorities remain virile in enforcing and safeguarding trade secrets laws to protect strategic and competitive advantages of businesses, especially in sectors where intellectual property underpins innovation, development and market relevance. The notion that corporate espionage cases are complex, protracted and fall in the grey area of legal engagement is gradually losing its relevance.
This is a developing story, and you can follow up the full text for updates on the progression and implications of this case. More information regarding these charges can be found here.