No Idea Essay

503 Words3 Pages
I have no idea now. Here are some information about what social and economic consenquences brought by counterfeiting from the website Piracy and counterfeiting activities not only affect the (private) rights of intellectual property right holders and their concomitant economic and moral interests, but also harm national economies and social structures. Economic consequences of piracy and counterfeiting to the right holders are obvious. However, the economic consequences of a widespread piracy and counterfeiting business in a country may go much further. Manufacturers of affected products have a direct loss in sale revenues; this is often directly related to losses in tax revenues, and may also result in job losses. In social terms, the illegal business of counterfeiting and piracy brings with it all the negative side effects of clandestine labor. In addition, a certain market destabilization can be seen in areas heavily affected by counterfeiting and piracy. Manufacturers, both local and from abroad, loose trust in the market place if they realize that their IP rights are not respected and cannot effectively be enforced. This has been demonstrated to lead to a decline in investment. In a classic study (Mansfield 1995), a large percentage of chemical, drug, machinery and electrical equipment firms surveyed reported that the strength or weakness of intellectual property protection in any given country was an important aspect of their decision to make direct investments there. Additionally, an unsound environment for invention and cultural creativity as such can be a disincentive to engaging in creative work and research. This in turn will affect the cultural, economic vitality and development of a country. Another negative impact is the illegal and often criminal environment in which the illicit

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