Global Intellectual Property Center

New Study: IP Theft Will Cost EU Economy 1.2 million jobs

New Study: IP Theft Will Cost EU Economy 1.2 million jobs

A new study released today by the International Chamber of Commerce’s Business Action to Stop Counterfeiting and Piracy (BASCAP), predicts job losses due to piracy to reach as high as 1.2 million and €240 billion ($327 billion) in lost retail revenue by 2015 for the European Union. The study is another clear indication that when protected ideas are stolen, people suffer. As such, more must be done to address the jobs-killing crime of copyright theft. 

The good news is we have a remarkable opportunity to enhance international cooperation among nearly forty countries–who together drive over 50% of global trade–by establishing a meaningful and effective framework for the protection of intellectual property (IP) rights. This can be done through the completion this year of an Anti-Counterfeiting Trade Agreement (ACTA), a plurilateral agreement that will build on international norms without changing U.S. law, and result in more effective enforcement of IP rights with our largest trading partners. Read more….