Market for Illegally-Made Goods Reaches $460 Billion

A new report says as much as $461 billion was spent on counterfeit andpirated goods around the world in 2013, and that trade continues to grow.
The Organization for Economic Cooperation and Development released thereport on April 18. The OECD studies economic information to helpgovernments develop economic policies.
Counterfeit goods are illegally-made copies of products. They are made andsold without the permission of the owner. Intellectual property rights, such ascopyrights and patents, are forms of ownership that can be difficult toenforce in international trade.
Counterfeit goods can travel through many countries before they reach theplace where they are sold.
 

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