EU urged to crack down on fakes
The International Chamber of Commerce’s Business Action to Stop Counterfeiting and Piracy urged the European Commission in a letter this week to carry out new initiatives to crack down on production of counterfeit merchandise.
The group warned that without piracy protections, the European Union’s competitiveness in the global market would weaken.
“Unfair competition from counterfeiting and piracy worldwide drains billions annually from the ‘virtuous circle’ of economic growth that intellectual property generates, and costs the EU more than 100,000 in lost jobs,” the group’s letter said.