New study outlines the billions lost by industry and governments to illicit trade
The European Observatory on Infringements of Intellectual Property Rights has released its latest study into the economic cost of IP rights infringement, revealing that the clothing, footwear and accessories sector loses approximately €26.3 billion of revenue annually due to the presence of counterfeit products in the EU market. It is the related finding that government revenues are being hit to the tune of €8.1 billion annually that will resonate with law and policy makers.
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