Technology transfer is no longer a threat to U.S. corporations but the loss of competitiveness from remaining outside of UNCLOS is
Lastly, U.S. companies are not subject to the mandatory technology transfer requirements of Article 5 of Annex III of UNCLOS.213 As a result of Implementation Agreement, Section 5 of the treaty has been replaced by a set of general principles relating to technology transfers with a developing Member State.214 Furthermore, the treaty includes language to prevent technology transfers in the event it poses a national security risk to the U.S.215 Article 302 states: “[N]othing in this Convention shall be deemed to require a State Party, in the fulfillment of its obligations under this Convention, to supply information the disclosure of which is contrary to the essential interests of its security.”216
Only through the ratification of UNCLOS will the U.S. be able to truly provide American companies with the support and competitive edge that they have been craving for three decades.217 Without the risk of mandatory technology transfers, U.S. companies have nothing to lose and much to gain from the stability and predictability UNCLOS provides.218 To avoid losing American jobs to foreign locations like the U.K., the U.S. needs to accede to UNCLOS to help foster a deep seabed mining industry for U.S. companies and create jobs in this potentially lucrative and emerging industry.219