October 6, 2022
Business

IPR ENFORCEMENT, THE BEST PRACTICES – Shri. V.P.Nandakumar

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Today, there is no standard or universally accepted definition of counterfeiting and piracy. These terms are defined by the individual laws of different countries. In general, counterfeiting and piracy can cause significant economic loss to the holder of the IPR. Counterfeiting and piracy are global problems that affect us all. They threaten the health and safety of consumers, deprive national economies of vital tax revenues, embolden criminal organizations and erode respect for intellectual property rights. Protection of intellectual property rights (IPR) is therefore essential for a strong economy and for the health and safety of the consumer class.

 

Due to the spread of counterfeiting and piracy to every nook and corner of the world, there is no precise data on the magnitude of these activities. At best, one can only have informed estimates. However, we have a fairly clear idea of the many ways in which piracy and counterfeiting cause harm:

  • Damage to the economic and moral interest of the Individual IP holders
  • Direct loss in sales revenue to the licensed manufacturers.
  • The state loses tax revenue when legitimate sales fall
  • Black money generated through counterfeiting and piracy exercises a pernicious influence on the national economy and is a source of funding for criminal and anti national activities.
  • Lack of respect for IPRs discourages creative activity in a society.

 

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