WASHINGTON, DC – 26 Jul, 2017 – With the United States pursuing new or updated trade agreements on many fronts, the Precious Metals Association of North America announced the formation of a national coalition to protect intellectual property rights against foreign counterfeiting operations. Teaming up with industries ranging from home appliances to fashionwear and everywhere in-between, the coalition has already begun discussions with influential Members of Congress and administration officials on proposals moving forward.
Heading-up the coalition is Paul Miller, executive director of PMANA. “On an annual basis, foreign produced counterfeit products cost U.S. businesses $250 billion and have led to the loss of over 750,000 American jobs and the theft of significant tax revenues.” Miller said.
“Additionally, this is a national security and public safety concern. Since these illegal operations have no regard for safety, their fake products can cause serious or fatal injuries to unsuspecting consumers. This can turn something as simple as drinking a glass of water or a life-changing event like your daughter’s senior prom into catastrophic events, both physically and financially,” Miller added.
The counterfeiting problem has expanded over recent years due to increased purchases of knock-off products from e-commerce sites such as Alibaba. Although these sites perform some level of monitoring for counterfeits, they do not go as far to remove the products from their listings – which deceive consumers into buying them as cheaper alternatives. As a result, American businesses experience a direct loss of sales, goodwill, irreparable damage to their corporate brand, and additional expenditures on protecting and enforcing their property rights.
As the coalition continues to work with Congress and members of the Trump Administration to address its concerns, we encourage and invite anyone to join our coalition that has a stake in protecting domestic interests from foreign counterfeiters. For all inquiries, please email email@example.com or call (703) 383-1330.
Company Name: Precious Metals Association of North America
Contact Person: Paul Miller
Country: United States