whats new C and J excel at stealing now they r doing it to each other any technology will be stolen by the Cs anyone notice the theft has been hurting imax profits and projects for years pudgy boy and J company dumping their shares no wonder
Well it's certainly no surprise. China excels at stealing technology. The real question is will the Chinese court system do anything to stop them. China doesn't seem to anxious to stop patent infringement.
"The illegal activities at issue here began several years ago. In 2009, IMAX discovered that Tsui had stolen its proprietary and trade secret information relating to IMAX's core projection and conversion technologies, including software source code. While employed by IMAX, but unbeknownst to it, Tsui formed his own company in competition with IMAX, and used IMAX's trade secrets to compete against - and beat out - IMAX on a bid for a significant project in China."
So, the imax mgmt informs us in 2013? were they not supposed to share this info with the shareholders/markets when it happened or at least within reasonable time after it happened?The theft was huge and it can adversely affect imax in a big way if they have to compete against cheaper version of their own technology . Imax actually lost some projects already as the article states.
Google 'China Imax' and click News on the lefthand side:
LOS ANGELES (CN) - IMAX claims in court that a former employee swiped its big-screen digital movie trade secrets and used them to start his own company in China.
IMAX sued GDC Technology USA, and two companies called GDC Technology Limited, one based in the British Virgin Islands and one in the Cayman Islands. The lead defendant is a California LLC. IMAX is a Canadian corporation.
The federal complaint states: "IMAX has filed this action to stop GDC's illegal commercial exploitation of IMAX's trade secret large format digital theatre projection system and film conversion technologies. Former IMAX employee, Gary Tsui, stole this proprietary technology from IMAX, then surreptitiously provided it to film companies in China, including a company now called China Giant Screen, for which he is the 'chief engineer.' China Giant Screen uses IMAX's trade secrets under the name 'China Film Giant Screen' ('CFGS'). Defendant GDC is now knowingly and actively using IMAX's trade secrets through, among other things, its relationship with CFGS, in its efforts unfairly to compete globally with IMAX,"