60 Second Advocate - Counterfeiting and Piracy

               
 

The Scope of the Problem. Intellectual Property (IP) theft costs U.S. companies between $200-$250 billion a year and roughly 750,000 jobs to date. Counterfeit goods make up an estimated 5%-7% of world trade, resulting in lost economic opportunities domestically and abroad. The problem of counterfeiting and piracy goes beyond the manufacture, distribution, and sale of unauthorized goods. Nearly all industries are being affected, from apparel and footwear, high-tech industrial goods, medicines, autos and auto parts, food and beverages, and cosmetics to copyrighted works, including entertainment and business software, movies, music, and books.