International Trade Law News

U.S. processor developer Transmeta Corporation today announced that U.S. export controls forced it to cancel a multi million dollar sale and licensing agreement with a company to make and sell products in China. In a statement, Transmeta's president and CEO said the company's processors subject to the transaction "are still considered very advanced, controlled technology from an export control perspective" and after meetings with U.S. government officials it was determined that "the necessary technology export control approvals could not be obtained for these two agreements within the timeframe necessary to satisfy" the buyer's commercial requirements.