The proprietary technologies in question are believed to hold considerable economic value to GE’s competitors if anyone should gain access to them. The FBI is probing if there are any other instances of intellectual property theft at GE.
The proprietary technologies are believed to hold considerable economic value
This incident comes at a time when tensions between the US and China are simmering rapidly. Apart from the trade issues between both countries, the Trump administration has blamed China for theft and forceful transfer of intellectual properties from US technology companies.
GE reported a 30% decline in profits for its most recent quarter and the company is undergoing a broad restructuring process. Several of GE’s businesses are being offloaded with the company disclosing plans to sell its parts of its digital unit GE Digital earlier this week.
GE’s stock has dropped 24% so far this year. Shares were down 0.3% as of 1:30 pm ET.