Big Companies Accused Of Stealing Other's Innovation
Cathay Accused Hilead
A private biotech company in China, Cathay Industrial Biotech, claims that a factory manager stole their secrets and started a rival company. Cathay along with other investors including Goldman Sachs were waiting for the company to go public. But, due to this theft, instead of going public, the company is struggling to stay in business.
Cathay claims that the copy was with a special twist as the rival Hilead Biotech is backed by the Chinese government.
