Local Tech Wire
DURHAM, N.C. – Cree is selling millions of light-emitting diodes in China, but don’t expect the Durham-based firm to expand its relationships there anytime soon such as through a joint venture.
According to The Wall Street Journal, Cree is just one of many Western firms that “keep secrets close” in China where concerns about intellectual property threat remain intense among corporate executives.
"We don’t want intellectual property outside the U.S.,” Cree Chief Financial Officer John Kurtzweil told The Journal’s Dana Mattioli. “We want to control the intellectual property and keep it as close as possible.”
Cree manufactures LEDs and sends them to China, where it owns a production plant.
IP concerns led Cree "at least once within the past year" to decide "against moving" production outside the U.S., the Journal added.
"[T]he protection of our IP is more important than short-term cost savings," Kurtzweil said.
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