Staff writer, with CNAManufacturing giant Hon Hai Precision Industry Co (鴻海) has agreed to set up a joint venture with Japan’s Sharp Corp, the newly acquired subsidiary of the Taiwanese firm, to manage the Japanese company’s intellectual property rights (IPR). Hon Hai, which owns a 66 percent stake in the Japanese company, is planning a joint venture with Sharp and the new company is scheduled to be established on Oct. 3, a statement released by Sharp said yesterday. Through the new mechanism, Sharp said that it would closely guard its IPR and not allow any leaks from the company. Hon Hai completed a deal to buy a 66 percent stake in Sharp for US$3.5 billion on Aug. 12, becoming the largest shareholder of the financially struggling Japanese firm. Tai said that Hon Hai has vowed to lend its full support to Sharp in product planning, development and marketing, and would do its best to help the subsidiary integrate its manufacturing resources.

Source: Taipei Times September 13, 2016 15:56 UTC