Trademark Counterfeiting, Product Piracy, and the Billion Dollar Threat to the U.S. Economy

Trademark Counterfeiting, Product Piracy, and the Billion Dollar Threat to the U.S. Economy

Trademark Counterfeiting, Product Piracy, and the Billion Dollar Threat to the U.S. Economy

Trademark Counterfeiting, Product Piracy, and the Billion Dollar Threat to the U.S. Economy

Synopsis

Journalist and writer Paul Paradise gives an in-depth examination of what's been called the business crime wave of the 21st century--a trend that is already absorbing 5-7 percent of the world's commerce and billions of dollars from the U.S. economy. He explores the history of the problem, how counterfeiting and piracy are done, and how U.S. businesses are trying to battle it. With interviews, commentary, and anecdotes by corporate attorneys, business leaders, and private investigators, Paradise shows what is behind this appalling criminal industry, that ranges from t-shirts and watches to pharmaceuticals and airplane parts. This is an important, well-written study for anyone interested in world trade and the damage that violations of intellectual property laws can inflict.

Excerpt

During 1995 and 1996 the United States nearly imposed trade sanctions on the People's Republic of China for the piracy of U.S.-owned copyrights for music, computer software, and motion pictures by the Chinese. Only the signing of an agreement by the Chinese in both years regarding greater protection of intellectual property avoided an all-out trade war.

The trade dispute underscored how serious a problem the counterfeiting of trademarks and the piracy of copyrights and patents had become. Under the old English common law, the crime was called "palming off." What the counterfeiter does is to steal the goodwill and brand name recognition inherent in a brand or trademark by attaching a counterfeit brand to his product and palming it off as the genuine article. Stealing the brand is as old as human commerce, but in modern times, the globalization of the economy and advances in technology have led to an explosion in counterfeit products. Prescription pills, automobile and airplane parts, heart pumps, garments, and a multitude of consumer products have been counterfeited and palmed off as the real product.

In modern times, the U.S. business community has become the principal victim of the explosive growth of counterfeit products. Product counterfeiting is a business crime. the emergence of the United States as the dominant world economy has had the unfortunate consequence of making its products the ones most often counterfeited. According to the International AntiCounterfeiting Coalition (IACC), an international trade group based in Washington, D.C., the U.S. economy lost $200 billion in 1995 due to counterfeit products. This figure is nearly twice the figure for the European Common Market, with estimated losses in revenues of $135 billion in 1995.

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.