International group of executives fighting counterfeiting

International group of executives fighting counterfeiting    A group of top executives from companies based around the world formed a new coalition Tuesday to protect intellectual property.
   Meeting in London as the 'Business Action to Stop Counterfeiting and Piracy' (BASCAP), the corporate leaders warned that intellectual property thefts now total $600 billion and is threaten the modern, knowledge-based global economy of this century.
   The group endorsed a four-point plan of action against IP crimes:
   * Create counterfeiting and piracy indices that identify issues that deserve more attention within national IP protection policies.
   * Develop a clearinghouse to share best practices and strategies to combat IP violations.
   * Compile a compendium of case studies and statistics that would be global and cross industry sectors, which can then be shared with governments and businesses.
   * Develop education materials for policymakers and the public to explain why IP rights need to be respected and enforced.
   The BASCAP is an initiative of International Chamber of Commerce.