New Horizon-backed Sinovel faces legal action over alleged IP theft
Sinovel Wind Group, a Chinese turbine manufacturer part-owned by New Horizon Capital, faces legal action from American Superconductor Corp. (AMSC) after one of its employees was jailed for stealing intellectual property and selling it to the Chinese firm. The employee, who is no longer with the firm, is awaiting trial on charges including economic espionage.
AMSC, which produces components used in 10% of the world's wind turbines, has filed a claim for arbitration against Sinovel with the Beijing Arbitration Commission, Bloomberg reported. It has also filed...
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