EQ3 Tensions over intellectual property rights Flashcards
1
Q
Why are tensions created over counterfeit goods?
A
-No one wants to buy the real thing so significant revenue loss
-Violates intellectual property rights, straining trade relations
2
Q
What are the impacts of counterfeit goods?
A
-Reduces customer trust
-Health and safety concerns as they fail to
meet standard safety
3
Q
What % of counterfeit goods came from China in 2016 to EU, Japan and US
A
-72% of fakes came from china to EU, Japan and US
4
Q
How much of world’s trade is conducted through counterfeit goods?
A
5-10%
5
Q
True or False? It is illegal to sell counterfeit goods under intellectual property rights (WTO rules)
A
True
6
Q
What item had the highest sale loss due to counterfeits of it in 2020?
A
Clothing
