Intellectual property is the most valuable asset of companies, but IP theft has been a big contentious issue in today's tech world. It created a big trade war between two major economies China and the US.  Most of the US companies say that china has stolen their intellectual property.

The problem of protection and enforcement of intellectual Property rights has long been a concern for many states' current and former governments. Tech companies pressures global organization to reform its IP system and make it stronger and more successful.  But its not that easy to change the IP environment completely. Since each nation has its sovereignty, no country has the right to demand that other countries change their policies. Looking at the major international IP convention such as Paris, the Berne Convention, and the TRIPS Agreement, there are no clear rules and regulations regarding IP theft worldwide. This creates severe consequences in the global IP environment, as many states and companies are losing their technology, innovation, and revenue.  Each country has its IP law, but it has limited jurisdiction and is not covered in a global context. We need strong regulations on IP theft at a worldwide level. It will ensure the smooth running of the worldwide IP environment.

There are a few ways used by the IP thieves to steal the data; some of them are: 

1.Human Error: Sometimes, the company employee intentionally / accidentally shares the trade secrets and confidential details related to the company to the unauthorized person outside the company network or inadvertently transmits confidential data with unauthorized parties. 
 
2. Hacking: hacking is a technique where hackers are illegally gaining access to company networks with malicious acts. By hacking the company's network, they will gain access to the massive volume of confidential technology and business information.
 
3. Access Exploitation: By exploiting access to sensitive files, the employees can steal trade secrets and share them with competitors or criminals. For example, l it was found that former employees at biotechnology company GlaxoSmithKline stole trade secrets to benefit a Chinese pharmaceutical company by emailing confidential files and transferring proprietary data via electronic storage devices.

4. Forced technology transfer; It is a method of IP theft where the domestic government forces
foreign businesses or companies to transfer their technology in exchange for market access. This practice is widespread in China. If any company wants to enter the Chinese market, it needs to exchange their technology with Chinese companies. It is a compulsion imposed by the Chinese government on new entrants to its market.

This article does not intend to hurt the sentiments of any individual, community, sect, or religion, etcetera. This article is based purely on the author’s personal opinion and views in the exercise of the Fundamental Rights guaranteed under Article 19(1)(A) and other related laws being enforced in India for the time being.