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How Do Counterfeit Products affect society
Transcript of How Do Counterfeit Products affect society
Effects on businesses
Value of counterfeit goods $1.7 trillion
2% of worlds economic ouput
90% of acecsories 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 employes
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 ingridents
Technology and intenet makes fakes apear more legitimate
Fraction of the quality
2.5 million jobs lost
Why does it matter
More people are unkowingly buying counterfeit products every day. Many people are curently unaware of the amount of damage these products do
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.