Written in 2009; 1,743 words; 8 sources; MLA; $ 56.95
Paper Summary:
The paper discusses product counterfeiting, a significant problem in the marketplace, as companies that do all the research and development can be seriously undercut by counterfeit product sellers who then sell to willing consumers. The paper notes that this is not the only problem associated with counterfeit products. The paper discusses the many hidden costs to legitimate companies and gives such examples as legal fees, investigative expenses and brand protection and enforcement, which cost significant amounts to companies. The paper also relates that most companies are not fully aware of their expenses in such matters, let alone how much real loss of sales occur. Lastly, the paper explains that there is significant job loss that is associated directly with the production and distribution of counterfeit products in the global market.
"In the early part of the new millennium the federal government began to strengthen and make more enforceable the legislative statutes that allow for the enforcement of intellectual property rights. The government created a task force to address infringement issues and more clearly illuminate legislative standards. In fact the US government task force came to the conclusion that counterfeiting has not only economic, social, legal and safety concerns associated with it but may also contribute significantly to the funding of terrorist cells and actions. "
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