Thursday, January 24, 2019
News

Counterfeits affecting niche digital firms: Study

   SocialTwist Tell-a-Friend    Print this Page   COMMENT

New Delhi | Saturday, Mar 10 2018 IST
Good performing digital companies having greater profitability, higher revenue, more intangible assets and more patents are affected greatly by counterfeits, a study says.

The study carried out by EU Joint Research Centre, based on firm-level databases as a source of information, also provided empirical estimates for the impact of counterfeiting practices on the economic and innovative performance of companies.

According to another study, the Organisation for Economic Co-operation and Development (OECD) said despite BRICS countries playing a growing role in global economic development, they consistently under-perform in their protection of IPR, especially with regard to counterfeiting and copyright piracy.

"The OECD study is timely considering BRICS leaders' commitment to safeguard intellectual property rights at the 2017 Xiamen Summit," Transnational Alliance to Combat Illicit Trade (TRACIT) Deputy Director-General Mr. Stefano Betti said. "However, it is clear that much more needs to be done to prevent IP theft and we encourage BRICS countries to double down on this important issue at their upcoming July Summit in Johannesburg," he added.

BRICS countries are, however, increasingly recognizing the value of IP and the need to protect it. In August 2017, BRICS Trade Ministers agreed to promote exchanges and cooperation on IPR legislation and enforcement in order to create favorable conditions for trade and innovation-driven economic development. This was followed up with the adoption of the BRICS IPR Cooperation Guidelines at the 9th annual Leaders' Summits in Xiamen, China.

Given the important role that emerging economies, including BRICS, are playing in the global markets for fake goods, their involvement and active leadership in countering illicit trade is essential, Mr. Betti said. TRACIT is an independent, private sector initiative to drive change to mitigate the economic and social damages of illicit trade by strengthening government enforcement mechanisms and mobilizing businesses across industry sectors most impacted by illicit trade.

UNI JPG SHK 1738

-- (UNI) -- C-1-1-DL0462-1282369.Xml

 
  LATEST COMMENTS (0)
POST YOUR COMMENT
Comments Not Available
 
POST YOUR COMMENT
 
 
TRENDING TOPICS
 
 
CITY NEWS
MORE CITIES
 
 
INDIA WORLD ASIA
Odisha CM writes to Railways Min demandi...
Pleasant Thursday morning in Delhi...
Snatch voting rights, govt jobs of peopl...
Nitin Gadkari attacks Congress for faili...
Mallikarjun Kharge to lead Maharashtra C...
PESO official caught by CBI for taking b...
More...    
 
 Top Stories
UP illegal sand mining: ED register... 
Former Congress leader joins Sajad ... 
Smriti stars in India's 9-wkt win o... 
Ghosn resigns as Renault President... 
Nepal official launches mission to ... 
Curfew in Odisha town following gro... 
PCB decries Sarfraz's racial slur... 
Neymar suffers recurrence of fifth ...