Report: Counterfeiting Now Half Trillion Dollar Global Industry

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Last month, the Organization of Economic Cooperation and Development (OECD) and the European Union’s Intellectual Property Office released an updated report showing that imports of counterfeit and pirated goods globally hit $461 billion in 2013. This represents more than 2.5 percent of total global imports, an increase from a 2008 report that attributed counterfeits to only 1.9 percent of total imports. Counterfeit fashion accessories, footwear, and apparel were among the top most seized items during the period 2011 – 2013.