China Destroys $20m Worth of Goods Linked to Counterfeiting & Piracy

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Date: Thursday May 2, 2019 11:40:02 am
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    China Destroys $20m Worth
    of Goods Linked to Counterfeiting & Piracy

    Over 20 million U.S. dollars worth of counterfeit goods linked to intellectual property right (IPR) infringement were destroyed across six Chinese provinces and autonomous regions on Friday, the World Intellectual Property Day.
    By Lu Sirui
    Image result for China Destroys $20m Worth of Goods Linked to Counterfeiting & Piracy
    Nearly 200 tons of counterfeit goods are destroyed by authorities in central China's Hubei Province. Valued at about 800,000 U.S. dollars, the 18 different item categories range from fake sneakers to bad alcohol and car components, and all are linked to some form of IPR infringement.
    Representatives from Nike, P&G and other companies victimized by it were invited to witness the destruction.
    Lu Zhengming, representative of the local authorities said, "The destruction shows the determination of the government to protect the rights and interests of companies and customers. China joined the World Intellectual Property Organization in 1980. The related agreement requires member countries to destroy infringed goods. This event also shows China's attitude in following international rules."
    Protect Brands Together
    As the popularity of sneakers continues to surge in China, brands like Nike face pressure to fight counterfeit manufacturers.
    With the rollout of traceable technology like radio frequency identification, or RFID, criminals are finding new ways to perfect their methods.
    Nevertheless, Companies and Local Authorities Aim To Stop Them.
    She Duanzhi, Vice President of the Government & Public Affairs of Greater China of Nike explained, "At Nike, we have a special department dedicated to protecting the brand. It works with law enforcement bodies to ensure our consumers are properly served. State Market Supervision and public security missions are very important, especially within the economic crime investigation unit. We assist them in their investigation and law enforcement."
    A Worldwide Issue.
    Experts say counterfeit goods manufacturing is a global issue. A report released by Frontier Economics, an internationally recognized economics research firm indicated in 2017 that the global economic value of counterfeiting and piracy could reach 2.3 trillion U.S. dollars by 2022. 
    The report also depicted that the negative impacts of counterfeiting and piracy are projected to drain 4.2 trillion U.S. dollars from the global economy and put 5.4 million legitimate jobs at risk by 2022.
    "Measures to fight counterfeiting have not been sufficient," Jeffrey Hardy, director of ICC (international chamber of commerce) Business Action to Stop Counterfeiting and Piracy told reporters of ICC . 
    "If governments hope to stabilize the economy and stimulate economic growth and employment, they must do a better job to protect the central role that intellectual property plays in driving innovation, development and jobs."
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