February 4, 2011
The Costs of Counterfeiting
A new ICC report predicts the cost of intellectual property rights abuses worldwide will reach $1.7 trillion by 2015 and put 2.5 million legitimate jobs at risk each year. Launched at the 6th Global Congress on Combating Counterfeiting and Piracy, which took place in Paris in early February, the ICC report updates a groundbreaking 2008 OECD study that showed more than $250 billion in counterfeit and pirated goods move through international trade alone. The revealing ICC study not only brings the estimates up to date but also examines additional impacts not quantified in the OECD report. These include the value of domestically produced and consumed counterfeit products, the value of digital piracy, and the negative impacts on society, governments and consumers.
Staff contact: Caitlin Martin
More on ICC’s BASCAP (Business Action to Stop Counterfeiting and Piracy) initiative
