Huawei Technologies Co. founder Ren Zhengfei proved a master strategist in building his company into the global leader in telecommunications equipment. Now, in the wake of two U.S. criminal indictments, he faces the unfamiliar task of working out the best legal strategy for allegations that could threaten his company’s very existence.

Huawei’s first impulse, clearly, has been to fight. The company denied any wrongdoing and said it expects to be found innocent in court. Yet Ren and his legal team have to consider opening negotiations with the Justice Department to find out how to get the company out of peril.

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The U.S. may be looking for more than just a fine in the criminal case. Huawei has been on the U.S. radar screen for a long time over suspicions of misappropriated intellectual property, according to Alan Sykes, a professor at Stanford Law School. Any deal to drop the case would probably involve court-supervised probation, with the threat of harsh sanctions if Huawei engages in wrongdoing.