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Follow on Google News | Dennemeyer Takes the Counterfeit Fight to the Next GenerationBy: Dennemeyer Counterfeiting money has been around since the first currency, but the counterfeiting of all types of products has nowadays become more prolific. News about counterfeit automobile brakes, drywall and infantformula has splashed across the headlinesin the last decade. Young buyers, like high school students, are especially susceptible to counterfeits as they usually don’t have the means to buy the real item. But for many the question remains, what’s the harm? It turns out counterfeiting has very real and significant impact. Globally, the total economic value of counterfeit and pirated goods is estimated at $650 billion annually1. This likely underestimates the value due to difficulties in estimation and the continued steep increase in volume of counterfeit goods. The economic impact is expected to rise to $960 billion in 20151. This sum is larger than the GDP of 178 of the world's countries2. But how do we stop this phenomenon? One part of the answer is increased brand and trademark enforcement through Customs and other agencies. Another solution is reducing the demand of counterfeit goods by educating the buyers. One novel approach is to educate the next generation of consumers,15- In this regard, the International Trademark Association (INTA (http://www.inta.org/ Click here (http://www.unrealcampaign.com) to learn more about the Unreal Campaign and how to get involved, and visit Dennemeyer's Social Media Sites (https://www.facebook.com/ About Dennemeyer Group With offices in 11 countries worldwide, the Dennemeyer Group assists thousands of clients, both companies and law firms, offering cost-effective solutions for the easy and secure management of IP portfolios. The firm's services include Portfolio Services, state-of-the- References 1. Frontier Economics, Estimating the Global Economic and Social Impacts of Counterfeiting and Piracy, February 2011. 2. The Word Factbook, 2012. Central Intelligence Agency, https://www.cia.gov/ End
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