It means that IP that was developed in the US becomes owned in a tax haven so that the profits from such IP are not taxed in the US. This is why companies find it profitable to put jobs overseas even if there is no business reason to do so.
I am really intrigued by Rashkin's comment. You write: Rashkin told Congress that the current structure encourages U.S. companies to “park the resulting intellectual property in tax havens.”
What does that mean?
Drones are, in essence, flying autonomous vehicles. Pros and cons surrounding drones today might well foreshadow the debate over the development of self-driving cars. In the context of a strongly regulated aviation industry, "self-flying" drones pose a fresh challenge. How safe is it to fly drones in different environments? Should drones be required for visual line of sight – as are piloted airplanes? Join EE Times' Junko Yoshida as she moderates a panel of drone experts.