Alicante
05 December 2016
Reporter: Barney Dixon
EUIPO counts cost of counterfeiting and piracy
Counterfeiting and piracy cost up to £71 billion and 790,000 jobs every year across the EU, according to a study conducted the EU IP Office (EUIPO).

The study was carried out through the European Observatory on Infringements of IP Rights and covered the period between March 2015 and September 2016 to build a fuller picture of the economic cost of counterfeiting and piracy in the EU.

It found that more than £40 billion, or 7.4 percent, of all sales were lost in nine sectors, including clothing, toys, jewellery, cosmetics, accessories, handbags, recorded music, spirits and wine, and pharmaceuticals, due to counterfeiting and piracy.

A further £12.2 billion in government revenue was also lost, according to the study.

These numbers reflect nearly 500,000 jobs lost or not created across the nine sectors in the EU.

When considering the effect of counterfeiting and piracy across a broader group of sectors, an additional 290,000 jobs were lost elsewhere in the EU economy.

In the UK, more than £6.4 billion was lost annually due to counterfeiting, with over £4.6 billion in the nine sectors, amounting to 6.7 percent of their sales.

The UK was the fourth country most affected by job losses due to counterfeiting, with an estimated 80,500 jobs lost overall and 50,800 in the nine studied sectors.

António Campinos, executive director of EUIPO, said: “We hope that the results of our study series will help consumers make more informed choices.”

“This is all the more important at this time of the year, when consumers and citizens are doing their Christmas shopping and choosing gifts for their dear ones. Through our reporting and analysis, we can see the economic effects that counterfeiting and piracy have on sales and jobs.”

More Industry news
The latest news from IPPro The Internet
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
UKIPO ‘working hard’ to push IP issues in Brexit negotiations
16 March 2017 | London | Reporter: Barney Dixon
The UK Intellectual Property Office is working hard to push intellectual property issues to the forefront of Brexit negotiations, attendees heard at the Chartered Institute of Trade Mark Attorneys Spring Conference in London
UKIPO launches study of IP enforcement framework
13 March 2017 | London | Reporter: Barney Dixon
The UK Intellectual Property Office (UKIPO) is soliciting bids for research into the effectiveness of the UK’s IP enforcement framework
More to be done for digital sectors, says UK government
03 March 2017 | London | Reporter: Barney Dixon
The UK’s digital sectors contributed £118 billion to the economy in 2015, but there is more still to be done, according to a new policy paper from the government
IP experts launch group dedicated to education
20 February 2017 | New York | Reporter: Barney Dixon
Experts have launched a new non-profit organisation aimed at promoting understanding of the importance and value of intellectual property
IP trade group singles out Canada
17 February 2017 | Washington DC | Reporter: Barney Dixon
The International Intellectual Property Alliance has named 16 countries, including Canada, that should be placed on the US Trade Representative’s annual list that names and shames jurisdictions that fail to protect US IP
Infringement could have $4.2 trillion impact in five years
07 February 2017 | Hong Kong | Reporter: Barney Dixon
Counterfeiting and piracy could cost $4.2 trillion globally by 2022, according to a new report...
Paragon acquires majority stake in Novagraaf
03 February 2017 | Munich | Reporter: Barney Dixon
Private equity firm Paragon Partners has bought a majority stake in international patent and trademark consultancy Novagraaf.