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How Do Counterfeit Products affect society

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Evan H

on 29 May 2017

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Transcript of How Do Counterfeit Products affect society

How Do Counterfeit Products Affect Society?
Effects on businesses
Tarnishes image
Value of counterfeit goods $1.7 trillion
2% of worlds economic output
90% of accessories claimed to be Apple are not
loss to legitimate companies in the range of USD 500 to USD 700 billion annually

Effect on government
Seized $1.26 billion in goods
Causes wrongful lawsuits
Tax revenue loss of $125 billion
Seized factories open up again with same employees
Effects on consumers
Dangers of counterfeit products
Often fund terror and crime organizations
Explosions, Fire hazard and dangerous materials
Faulty vehicle parts
Medicine with no active ingredients
Lethal or harmful ingredients
Technology and internet makes fakes appear more legitimate
Fraction of the quality
Products often break
2.5 million jobs lost
Why does it matter
More people are unknowingly buying counterfeit products everyday. Many people are currently unaware of the amount of damage these products do.
My Findings
Mansour, Iris. "How Companies Can Beat the
Counterfeiters." Fortune.com. Fortune, 27
Aug. 2013. Web. 28 May 2017.
Melik, James. "Popular Trainer Brands Lose
out to Fakes." BBC News. BBC, 19 July
2012. Web. 28 May 2017.
Denis, Elizabeth Gasiorowski. "Crackdown
on Counterfeiting." ISO. N.p., 08 Jan.
2014. Web. 28 May 2017.
"Phil's Stock World: Counterfeit Products
Hurt The Consumer And The Economy."
Proquest.com. Newstex, 16 Nov. 2016.
Chu, Kathy. "For Counterfeit Fighters on
Social Media, Fake Profiles Are a Real Ally; Brand Investigators Pose as
Shoppers in the Latest Battleground
in the War on Fake Goods."
Proquest.com. Wall Street
Journal, 26 Apr. 2016. Web.

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