How Damaging Are Counterfeit Goods to Society?

How damaging are counterfeit goods to society?

In recent years, producing and buying counterfeit attract increasing attention in society. According to an OECD report released on 4 June 2007, international trade in counterfeit goods is worth a staggering $US200 billion ($A240 billion) a year. That figure does not include counterfeit and pirated products domestically produced and consumed. It also does not include products distributed via the internet! (Lawyers 20 June 2007) These strong figures can completely help us understand how severe the situation is.

What is in question is whether both producer and consumers should be responsible for the counterfeit flooding. From my perspective, on one hand, it is no doubt that manufacturers make mass production to chase for sudden huge profits. On the other hand, however, based on the supply and demand theory, a wealth demand for counterfeit will certainly lead to a large scale manufacturing. Consumer should also pay for this big problem. Consumer should also be responsible for the counterfeit flooding, partly because of a lack of awareness in identifying the fake products, partly because, especially in fashion field, fake products can greatly satisfy people’s vanity.

Maybe driven by the seducing price or poor discretion, people don’t think purchasing counterfeit goods is a victimless crime. However, buyers are stealing the intellectual property of legitimate. Under intellectual property law, owners are granted certain exclusive rights to a variety of intangible assets. While people now pay little attention to intellectual property. It is horrible and unimaginable that people in a high developed society have no infringement consciousness.

In addition to that, people’s craving for counterfeit of luxury brand can also hurt people’s mental health. Undeniable, everyone has vanity, though it is always portray as a negative aspect of the human