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Trade in Counterfeit Products and the UK Economy

Fake Goods, Real Losses

image of Trade in Counterfeit Products and the UK Economy

The modern structure of the UK economy is largely based on knowledge, ideas and innovation and its well integrated global value chains. These factors help boost the country’s economic growth, but at the same time they make it highly susceptible to the risk of trade in counterfeit goods. This risk negatively affects UK rights holders, the UK government, and the reputation of UK firms. This report measures the direct, economic effects of counterfeiting on consumers, retail and manufacturing industry and governments in the United Kingdom. It does so from two perspectives: the impact on these three groups of imports of fake products into the UK, and the impact of the global trade in fake products on UK intellectual property rights holders.

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The effects of trade in fake goods on the UKeconomy

This chapter presents the quantitative assessment of effects of counterfeit trade on the UK economy, based on the methodology presented in Chapter 1. It quantifies: 1) the impacts on the UK of imported fake products; and 2) impacts of worldwide trade in goods that infringe the IP of UK rights holders. For both these impact pathways it quantifies the effect on consumers, sales, jobs and government revenues. It also outlines global trends in trade in counterfeits of products of relevance to the United Kingdom.

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