News Arm Retakes Control of China Operation, Erratic CEO Replaced

waltc3

Respectable
Aug 4, 2019
274
137
1,860
0
When new businesses hailing from outside China open up inside China, it becomes a running bet to see how long it will take China to try and nationalize the company...;) If they don't quite go that far, they "as good as" nationalize it, while denying nationalizing it. In any event, the IP is forfeited.
 

missingxtension

Distinguished
May 31, 2009
14
3
18,515
0
If you don't have 7 minutes to waste watching the video. It comes down to an archaic law about having a seal or stamp. You have to physically have that in China, like a notary stamp in the US l. Chinese Arm CEO went missing with said stamp seal, so legally it was problematic. So fast forward now, problem solved. You can have your 7 minutes to do all you want with them. Unless you are a slow reader! Watch the video and save time!
 

TCA_ChinChin

Distinguished
Feb 15, 2015
480
131
19,090
33
If you don't have 7 minutes to waste watching the video. It comes down to an archaic law about having a seal or stamp. You have to physically have that in China, like a notary stamp in the US l. Chinese Arm CEO went missing with said stamp seal, so legally it was problematic. So fast forward now, problem solved. You can have your 7 minutes to do all you want with them. Unless you are a slow reader! Watch the video and save time!
Seems really weird from a Western perspective, but I guess some Asian countries still have certain laws or customs that take into account those seals/stamps like China or Japan. Still really bad that there isn't or wasn't a better solution other than getting it back. Definitely another hit on Chinese market's already dreadful reputation.
 

ASK THE COMMUNITY