EU plans first 'Counterfeit and Piracy' watch list
Photo © Alexander Raths - Fotolia
(BRUSSELS) - As part of EU plans for an intellectual property enforcement system, the European Commission launched Wednesday a public consultation to establish a first worldwide 'Counterfeit and Piracy' watch list.
The aim is to identify the marketplaces outside the EU where counterfeiting, piracy or other forms of intellectual property abuse are common practice.
The initiative is part of the Commission's strategy announced in the 2017 Communication 'A balanced Intellectual Property enforcement system responding to today's societal challenges'.
Based on stakeholders' input, the Commission says the future watch list will help to raise awareness of consumers that might be buying products in those marketplaces, and encourage their operators and owners to crack down on intellectual property abuse.
The EU executive will also monitor the measures taken by local authorities to reduce the availability of goods and services infringing intellectual property rights in identified markets.
Intellectual property infringement is seen as a particular scourge on European industry and hampers investment and employment in industries that rely on creativity and innovation.
According to the European Union Intellectual Property Office (EUIPO) and the OECD, trade in counterfeit and pirated products amounts to around EUR 338 billion worldwide. The European Union is particularly affected, with counterfeit and pirated products amounting up to around 5 per cent of all imports or as much as EUR 85 billion a year.
Contributions to the public consultation should be sent before 31 March 2018.