It can sometimes be hard to remember that there is an entire world surrounding us. Remembering that we are not the only country and issues that take place near us are most likely happening else where too. The issue of counterfeit and pirated products has become a global problem. It is more common in some countries rather than others but it is an issue on just about every continent. Counterfeit products are a danger to consumers and a liability to the brand and company. 

This past March an interesting article was published by Phys.org discussing the fact that 3.3% of global trade are counterfeited and pirated products. This percent is an increased number from the previous 2.5% that was reported in 2016. To view this as a percent might seem low but when you put it into dollar figures and know that the 3.3% is actually $522 billion a year you realize just how large scale this problem is. According to the article, the main companies that are affected by this issue are those based in OECD nations like the United States, Japan, South Korea and EU states. 

There are new regulations and laws that continue to surface as a reaction to these counterfeit and piracy incidents. It is important for businesses to stay up to date and keep up with these new laws and regulations as they are surfacing for the protection of their business and their consumers.