Don’t trust a fake, buy the true make

The statistics are concerning: the cross-border law enforcement officials from Europol report that the share of pirated products in worldwide trade to amount to 2.5 percent, valued at $461 billion. Western industrial countries are particularly affected by
product piracy.

According to the most recent OECD study in 2019, some 24 percent of the infringements of intellectual property rights (IPR) discovered worldwide concerned the United States, followed by France (17 percent), Italy (15 percent), Switzerland (11
percent) and Germany (nine percent). Shoes, clothing, leather goods, electronics and watches accounted for the largest share of merchandise.

However, product piracy not only affects luxury or consumer goods, but it also impacts critical product groups such as medicine
and safety-relevant industrial products.


Fake products as a safety risk
The consequences of counterfeiting are complex. Manufacturers not only lose sales or competitive advantages, but are also threatened by a tarnished brand image, claims for damages, job loss,
or litigation. Not only major corporations are impacted. In a survey conducted by the European Intellectual Property Office among small and medium-sized enterprises, one in four companies reported being affected by IPR infringements.

Read the full article in DPA's July 2024 issue