(Bloomberg/Tom Giles, Debby Wu and Ian King) — Intel Corp. Chief Executive Officer Lip-Bu Tan dismissed reports about a new hire taking trade secrets from Taiwan Semiconductor Manufacturing Co. to his company, saying the US chipmaker respects other firms’ intellectual property.

Taiwanese newspapers spent the week reporting on the transition of Lo Wei-jen, 75, from his retirement from TSMC earlier this year to joining Intel in recent weeks. The executive is alleged to have taken proprietary knowhow from his former employer just before his departure.

“It’s rumor and speculation. There’s nothing to it. We respect IP,” Tan told Bloomberg News on the sidelines of the Semiconductor Industry Association Awards in San Jose on Thursday. The event recognized TSMC CEO C.C. Wei and former Chairman M

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