IP Theft: UMC Pleads Guilty to US Court Charges of Trade Secret Theft, Faces $60 Million Fine

[DeathtoGnomes]

Made in China, stolen from everywhere else.

The price of doing business with China in a nutshell.

 

[Vayra86]

Made in China, stolen from everywhere else.

Honestly the rest of the world should follow the US and boycott everything from them, let them keep their own crap in their own country and see how they get on with made in China 2025 then cause without all their crap exports their economy would crumble, let's stop pumping money into the communist regime who only care about control over their own people and soon if given the chance the rest of the world.

Right, let's pump more money into the capitalist war machine instead, where the US slowly devours all aspects of what's good in the world just as well. A lovely outlook, keeping power with the country that currently can't even help itself out of the shithole its in.

Nah, I'll pass. Its both worthless, time for something sane. We need a big transition and reinforcing the old world is not it.

 

[lexluthermiester]

More a space enthusiast who turned a blind eye to some very nefarious shit in pursuit of someone to fund his rocketry research.

Actually, that's not true either. Wernher VonBraun, like most scientists who worked for the Nazi's, was conscripted into service. They had no choice in the matter. So the truth is actually much better than the notions on offer in this discussion, which is getting off topic, so I digress...

 

[r9]

Right, let's pump more money into the capitalist war machine instead, where the US slowly devours all aspects of what's good in the world just as well. A lovely outlook, keeping power with the country that currently can't even help itself out of the shithole its in.

Nah, I'll pass. Its both worthless, time for something sane. We need a big transition and reinforcing the old world is not it.

Hey how's the weather in China ?

 

[Zareek]

Big or small business have to make a profit. I own a business of selling online and in person, my small business needs a profit to reinvest back into the business. How else am I going to have money to upkeep this sailboat.

That's kind of my point, it should hurt their business. It's a punishment for essentially stealing from another business!

Your numbers are a bit off. However, even if we assume they're correct, 60million is a hit to their profits and will affect their bottom line hard for the entire year. 60million is not a slap on the wrist.

If their second two quarters average out the same as their first two quarters it represents about 5% of the Gross Revenue for the year 2020. That is barely a slap on the wrist.

Numbers are in Millions of NT. Current conversion rate is 1NT = $0.035 USD.
UMC 2020 Q2 Report

 

[Vayra86]

Hey how's the weather in China ?

There is a continent in between the two as well, check the map. Its only the third largest economy in the world, so I can understand its easy to miss.

Especially for a bipartisan- conditioned citizen eh...

 

[Makaveli]

60million is not a slap on the wrist for that company, it a hefty chunk of their bottom line.

While I would generally agree with you, what are they going to do? They can't prosecute the company executives criminally because there would be no way to extradite them and that's IF you can prove who did what & when. It's much easier to prove the wrong-doing of a company selling products than it is to prove individual liability given that the company is an entity external to the US. What has been done is the best we can do.

United Microelectronics has a market capitalization of $12.43 billion and generates $4.93 billion in revenue each year.

Its a slap on the wrist!