Compliance with the U.S. Export Control regulations is challenging. Not only do they control the export of “licensable” products, but they also require equal diligence to ensure that the information pertaining to these items is not exported in what is called a “technology transfer.” The latter task is particularly difficult in the current hyper-connected, globalized business environment. The alternative, however, is distinctly unappealing.
An export control violation can lead to serious penalties, damaging publicity, and the possible loss of exporting privileges. As a result, executives realize that export control compliance is essential to any corporate risk management strategy.
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