Nearly 5 Billion Eur And 50 000 Jobs Lost Each Year Due To The Counterfeiting Of Ip Rights In The Field Of Cosmetics And Personal Care Products

Nearly 5 Billion Eur And 50 000 Jobs Lost Each Year Due To The Counterfeiting Of Ip Rights In The Field Of Cosmetics And Personal Care Products

On March 10, 2015, OHIM has published a pilot study on the economic damages due to violations of IP Rights in the field of cosmetics and products for personal care products. The study has analyzed the direct and indirect loss of revenues in the business field at issue due to the presence in the market of counterfeited goods such as perfumes, cosmetics, makeup and personal care products, also examining the impact on public finances. The data are impressive: the counterfeit of items of perfumery, make-up and personal care products (such as shampoo and sunscreen products) generates an annual loss of revenue in the region of EUR 4.7 billion, which corresponds to 7.8% of total sales in these business field, thus determining a loss of approximately 50,000 jobs.