The economics of counterfeit trade

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The expansion of world trade has led to a significant rise in counterfeit merchandise, with estimates of the global counterfeit market reaching around half a trillion dollars annually. This illicit trade affects nearly every industry, from pharmaceuticals to aircraft parts, with software and music piracy frequently highlighted in the media. In 2007, the Business Software Alliance (BSA) reported that 38% of personal computer software worldwide was illegal, resulting in $48 billion in losses for the software industry. Similarly, the Recording Industry Association of America (RIAA) noted a 58% increase in counterfeit CD seizures. Despite widespread acknowledgment of the severe issues surrounding intellectual property rights (IPR) protection, there has been little effort to comprehensively address the problem. This work aims to provide a thorough examination of the IPR landscape globally. A holistic understanding must consider consumer complicity in purchasing counterfeit goods, the tactics employed by counterfeiters, and the actions or inactions of governments and international organizations. The book outlines the environmental aspects of piracy, highlights successful anti-counterfeiting measures, and recommends strategies for IPR owners to safeguard their intellectual property effectively.