High tech companies across all industries face increased U.S. federal regulatory scrutiny in 2011 if they disclose certain high technology to foreign workers located within the United States or in their foreign subsidiaries abroad. This catches many companies by surprise, and warrants immediate attention. It also exposes them to substantial penalties and sanctions up to and including denial of export privileges.
McGuireWoods’ white paper, Increased Federal Scrutiny, Sanctions & Penalties for High Tech Companies, provides an overview of new federal requirements including:
- Sanctions
- Focus of Enforcement
- Concept of “Deemed Exports”
- Technology
- Foreign Nationals
- The Deemed Re-export Problem