{"id":749133,"date":"2023-04-19T09:38:05","date_gmt":"2023-04-19T13:38:05","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\/"},"modified":"2023-04-19T09:38:05","modified_gmt":"2023-04-19T13:38:05","slug":"globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\/","title":{"rendered":"GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets"},"content":{"rendered":"<h2>\nAccuses IBM of unlawful disclosure to Intel, the Japanese consortium Rapidus and others<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p>MALTA, N.Y., April  19, 2023  (GLOBE NEWSWIRE) &#8212; GlobalFoundries (NASDAQ: GFS)\u00a0(GF) today sued IBM for trade secret misappropriation. The complaint asserts the former semiconductor manufacturing company has unlawfully disclosed GF\u2019s confidential IP and trade secrets, after IBM sold its microelectronics business to GF in 2015. The technology at issue was collaboratively developed, over decades, by the companies in Albany, New York and the sole and exclusive right to license and disclose that technology was transferred to GF upon the sale.<\/p>\n<p>In the legal action filed in federal court in the Southern District of New York, GF asserts that IBM unlawfully disclosed GF IP and trade secrets to IBM partners including Intel and Japan\u2019s Rapidus, a newly formed advanced logic foundry, and by doing so, IBM is unjustly receiving potentially hundreds of millions of dollars in licensing income and other benefits.<\/p>\n<p>The complaint notes that IBM\u2019s executives have described the Intel and Rapidus partnerships as based on decades of technology derived from research conducted at the Albany NanoTech Complex, technology that they had no right to disclose. It also raises concerns over the extent to which IBM may have unlawfully disclosed GF\u2019s IP and trade secrets beyond these two heavily publicized partnerships.<\/p>\n<p>GF is asking for compensatory and punitive damages as well as an injunction against IBM preventing further unlawful disclosure and use of GF\u2019s trade secrets.<\/p>\n<p>In addition, GF\u2019s complaint asserts that IBM is targeting and recruiting GF\u2019s world-class engineering talent at the company\u2019s manufacturing facility, which is located near the Albany NanoTech Complex. In the complaint, GF asks the court to end the unlawful recruitment efforts, which have accelerated since the IBM\/Rapidus announcement in December 2022.<\/p>\n<p>GF has made significant investment in research and development to advance its feature-rich technology and is one of the world\u2019s leading semiconductor foundries with a global footprint and more than 13,000 employees, 2,500 of whom are based at the company\u2019s headquarters in upstate New York. GF will aggressively defend its investments in technology against those who violate them, as the complaint demonstrates IBM has repeatedly done.<\/p>\n<p>\n        <strong>About GF<\/strong><br \/>\n        <br \/>GlobalFoundries (GF) is one of the world\u2019s leading semiconductor manufacturers. GF is redefining innovation and semiconductor manufacturing by developing and delivering feature-rich process technology solutions that provide leadership performance in pervasive high growth markets. GF offers a unique mix of design, development and fabrication services. With a talented and diverse workforce and an at-scale manufacturing footprint spanning the U.S., Europe and Asia, GF is a trusted technology source to its worldwide customers. For more information, visit\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=yLg9AaqdrYE4eBIjsmvKca9Dt_FW7yqi_VvkGgcjBHVfZOVqBH27Cu7B8-3bFrvN0dfu-XNGNkxALFdvh-EE-A==\" rel=\"nofollow noopener\" target=\"_blank\">www.gf.com<\/a><\/p>\n<p>\n        <em>\u00a9GlobalFoundries Inc., GF, GlobalFoundries, the GF logos and other GF marks are trademarks of GlobalFoundries Inc. or its subsidiaries. All other trademarks are the property of their respective owners.\u00a0<\/em>\n      <\/p>\n<p>\n        <strong>Forward-looking Information<\/strong><br \/>\n        <br \/>This news release may contain forward-looking statements, which involve risks and uncertainties. Readers are cautioned not to place undue reliance on any of these forward-looking statements. These forward-looking statements speak only as of the date hereof. GF undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless require by law.\u00a0<\/p>\n<p>\n        <strong>Media contact<\/strong><br \/>\n        <br \/>Erica McGill<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=UiGPAFSKA1P4kFsVLg20fcQhdt4bkX1Iki2NMJ7nGyXe1yJB0jqqZgy0zt0VKSYzyAmadLs_VF4UzWObP9iu2UrRUlEgtdo7q1yoz4ESw9Rmp-vl8X1GUpYQHW9aGvMqpj1fwYrSsK0wptRcAm5A_aWkuCDkwrz_1ILvbelT6aOCm7pfyPlFtydRujY7QhEwb8Rla0prkCJyZEjKbh7mwD28wQ0ScbK4ZsQ8b8wi_71IDyWu_P77oW1173SuR1go9N_-dfmtkiSZCcAn3qosjQ==\" rel=\"nofollow noopener\" target=\"_blank\">erica.mcgill@gf.com<\/a><br \/>518-795-5240<\/p>\n<p>      <img decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgxMTI0OCM1NTM1NDE2IzIwOTk0MzQ=\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" src=\"https:\/\/ml.globenewswire.com\/media\/N2FmZjZkYjktZmUyNi00YTI2LWFhNzgtMTg1YzU0ZGFjNjMzLTExMTEwMDU=\/tiny\/GlobalFoundries-US-Inc-.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Accuses IBM of unlawful disclosure to Intel, the Japanese consortium Rapidus and others MALTA, N.Y., April 19, 2023 (GLOBE NEWSWIRE) &#8212; GlobalFoundries (NASDAQ: GFS)\u00a0(GF) today sued IBM for trade secret misappropriation. The complaint asserts the former semiconductor manufacturing company has unlawfully disclosed GF\u2019s confidential IP and trade secrets, after IBM sold its microelectronics business to GF in 2015. The technology at issue was collaboratively developed, over decades, by the companies in Albany, New York and the sole and exclusive right to license and disclose that technology was transferred to GF upon the sale. In the legal action filed in federal court in the Southern District of New York, GF asserts that IBM unlawfully disclosed GF IP and trade secrets to &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-749133","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Accuses IBM of unlawful disclosure to Intel, the Japanese consortium Rapidus and others MALTA, N.Y., April 19, 2023 (GLOBE NEWSWIRE) &#8212; GlobalFoundries (NASDAQ: GFS)\u00a0(GF) today sued IBM for trade secret misappropriation. The complaint asserts the former semiconductor manufacturing company has unlawfully disclosed GF\u2019s confidential IP and trade secrets, after IBM sold its microelectronics business to GF in 2015. The technology at issue was collaboratively developed, over decades, by the companies in Albany, New York and the sole and exclusive right to license and disclose that technology was transferred to GF upon the sale. In the legal action filed in federal court in the Southern District of New York, GF asserts that IBM unlawfully disclosed GF IP and trade secrets to &hellip; Continue reading &quot;GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2023-04-19T13:38:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODgxMTI0OCM1NTM1NDE2IzIwOTk0MzQ=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets\",\"datePublished\":\"2023-04-19T13:38:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/\"},\"wordCount\":568,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODgxMTI0OCM1NTM1NDE2IzIwOTk0MzQ=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/globalfoundries-files-lawsuit-against-ibm-to-protect-its-intellectual-property-and-trade-secrets\\\/\",\"name\":\"GlobalFoundries Files Lawsuit Against IBM to Protect its Intellectual Property and Trade Secrets - 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The complaint asserts the former semiconductor manufacturing company has unlawfully disclosed GF\u2019s confidential IP and trade secrets, after IBM sold its microelectronics business to GF in 2015. The technology at issue was collaboratively developed, over decades, by the companies in Albany, New York and the sole and exclusive right to license and disclose that technology was transferred to GF upon the sale. 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