The stock of Agilent Technologies Inc (NYSE:A) closed at $62.68 losing 0.13% in yesterday’s trading session. This company has filed a case against Shanghai Echrom and a number of its former employees over allegations of intellectual property theft. With this suit, Agile hopes to receive compensation for its losses but, most importantly it will be seeking for the ban on the use of Agilent’s proprietary technologies.
Michael Tang, the provider’s senior vice president and general counsel opined, “Agilent is determined to protect our IP, and will take all appropriate legal actions against any infringements worldwide.”
Intellectual property (IP) rights and their protection usually propel companies towards enhancing consumer confidence against counterfeits. Asides from that, they also play a part in encouraging companies to embrace better production strategies as well as handling additional resources in a more responsible manner. All these greatly determine whether or not the various multibillion dollar firms survive. They put them in a good position to legally fight off competition.
Agilent has been facing wild business competition from the likes of Thermo Fisher Scientific TMO, Abbott Laboratories ABT and Veeco Instruments VECO. This company will find the above stipulated aspects rather crucial in the near future.
The reason that a lot of employees prefer switching jobs from time to time is that they consider it to be first of all more profitable. Most of them believe that the switching gives them liberties that would have been impossible if instead they had chosen to stick in the big corporate houses like Agilent.
In a similar line, IP also changes hands, sometimes illegally. In numerous instances, a number of employees have been spotted leaving companies and proceeding to form new ones. A number of them have in the past been sued over intellectual property infringement and it will happen in the future as well.
Some analysts have expressed confidence in the fact that there are high chances Agilent will be winning in this particular battle. But, it is also expected that the war will continue.