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.
International group of executives fighting counterfeiting
