The globalization of markets has made Intellectual Property Rights (IPR) protection challenging. IPRs according to Belay Seyoum are associated with patents, trademarks, copyrights, trade secrets, and other protective devices granted by the state to facilitate industrial innovation and artistic creation.
Daily Finance reports that "U.S. companies lose at least hundreds of millions of dollars a year in sales from products that are counterfeited overseas and shipped to America." CNBC reports that "counterfeit goods make up about 7 percent of global trade." Although there are domestic laws and many international conventions in place the violation of IPRs are alive and well today. A clear example of this is U.S. Customs (CBP) fiscal year 2010 report on seizing over 19,000 goods that infringe Intellectual Property Rights.
Here are a few additional highlights of the report:
- In the past decade seizures have increased 400%
- Footwear, consumer electronics, and wearing apparel are the top three seized commodities
- China, Hong Kong, and Jordan are the main sources of counterfeit goods
- For more information see report: IPR-Fiscal Year 2010
U.S Customs (CBP) has also put together "Intellectual Property Rights Enforcement" guide that I have attached for your reference, which provide good insight on how you can have a more active role in protecting your IPR rights. A subscription to trade data can be also a great asset to your company in the battle against IPR violations.
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