NEDA joins Coalition Against Counterfeiting and Piracy
Apr 11, 2007
The National Electronic Distributors Association (NEDA) has joined the Coalition Against Counterfeiting and Piracy (CACP), a group of more than 285 businesses and associations organized to fight this growing economic threat.
Counterfeiting and piracy pose great risks to the economy, jobs and consumer health and safety. NEDA members feel the effect of this mounting problem on a global level. Increased product returns strain channel relations and tax supply chain inventory systems. NEDA, which is addressing this issue on a number of fronts, will voice the concerns of the authorized electronic distribution industry to this U.S. Chamber of Commerce led business coalition.
Counterfeiting drains an estimated $500 billion from the U.S. economy every year, with intellectual property crimes accounting for nearly $200-250 billion alone, and results in the loss of 750,000 jobs. From an economic perspective, intellectual property crimes deter new product innovation, reduce business sales and tax revenues, create liability concerns, lower corporate and shareholder profits, destroy well-established brands, and diminish consumer confidence, according to the Chamber. The CACP was recognized in 2006 during Global Anti-Counterfeiting Day for its efforts to end the scourge of global piracy and counterfeiting.