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If you do those 2 things in conjunction, I doubt you'd have to worry about people "stealing" your IP.

And yet Google is potentially pulling out of China due to having its IP stolen.

I'm pretty sure el_dot wasn't claiming that his strategy protects against sophisticated cyber attacks on the nation-state level.

Regardless, anything on the nation-state level is not worth debating about because other nations are not obligated to respect US patent, trade-secret, copyright, or any other law. It doesn't matter whether a US company patents its stuff or keeps it a secret, companies in China will do what they want.

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