When developing a new product, there are a lot of hurdles to consider before bringing it to market. Before production starts, you should familiarize yourself with intellectual property (IP) protections in the U.S. and abroad.

Many businesses in the United States turn to locations overseas, like China, to produce goods, as it is usually more cost-effective in terms of labor. However, according to a 7-month investigation conducted in 2018 from the U.S. Trade Representative (USTR), “Chinese theft of American IP currently costs between $225 billion and $600 billion annually.”