Counterfeiters Cost U.S. up to $600 Billion a Year
The theft of American intellectual property (IP) remains a systemic threat to the U.S. economy, inflicting an estimated cost that exceeds $225 billion in counterfeit goods, pirated software, and theft of trade secrets and could be as high as $600 billion annually, according to a 2017 update to The IP Commission Report.
The bipartisan, independent Commission on the Theft of Intellectual Property (IP Commission) said that China remains the world’s principal IP infringer, driven by an industrial policy that continues to prioritize both acquisition and development of science and technology. And while the previous administration and Congress have enhanced the policy mechanisms to mitigate the theft of IP, much remains to be implemented.