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Annual losses caused by counterfeiting and piracy estimated at 5.5 billion lei in Romania

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In Romania, annual losses caused by counterfeiting and piracy are estimated at 5.5 billion lei, the equivalent of  17.2% of sales in 11 commercial sectors, EUIPO (European Union Intellectual Property Office) informs.

A new EUIPO estimate places annual losses caused by counterfeiting and piracy in 11 major economic sectors in EU at the level of 269 billion lei annually. This updated analysis estimates global losses of 7.4% of overall sales in the following sectors: cosmetic products, clothes, footwear, sports items, games and toys, jewelry and watches, hand bags, recorded music, liquors and wine, pharmaceutical products, pesticides and smart phones.

Because legitimate producers manufacture less than they could do in the absence of counterfeiting, therefore they hire fewer workers, up to 468000 jobs in EU in those sectors.

On the overall, the total value of losses from sales in Romania means 280 lei per Romanian citizen per year, according to the analysis.

In Romania, losses from sales in the clothes, footwear and accessory sector because of counterfeiting are estimated at 949 million lei per year, that is 15.6% of sales.

In Romania, the estimated loss for cosmetics is 301 million lei, the equivalent of 11.8% of total sales in that sector.

Estimates are included in the Situation Report on DPI infringements in 2019, released on Thursday, which gathers EUIPO activity results at EU and world levels.

EUIPO is a decentralized EU agency based in Alicante, Spain. The agency manages the registration of EU patents and DMCs , which guarantee protection for intellectual property rights in all EU member states.

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Friday, June 7, 2019