Counterfeit Goods

Topics: Counterfeit, Authentication, Fake Pages: 4 (1128 words) Published: May 31, 2012
"Counterfeit Goods Pose Real Threat; Counterfeit Goods Result in Loss of Jobs as Well as Revenue. But of Even Greater Concern Is the Way This Global Black Market Is Funding Terrorist and Criminal Organizations." CBS Interactive. CBS Interactive Business Network, 10 Nov. 2003. Web. 28 Feb. 2012. Textual Support 1:

“FBI and customs and border agents estimate sales of counterfeit goods are lining the pockets of criminal organizations to the tune of about $500 billion in sales per year. By midyear for fiscal 2003, the Department of Homeland Security already had reported 3,117 seizures of counterfeit branded goods including cigarettes, books, apparel, handbags, toys and electronic games with an estimated street value of about $38 million--up 42 percent from last year. For the fiscal 2003 midyear report the top five offending countries of origin are the People's Republic of China ($26.7 million), Hong Kong ($1.9 million), Mexico ($1.6 million), Korea ($1.4 million) and Malaysia ($1 million).” Analysis 1: The essay provides statistics on the amount of counterfeit goods being transferred in today’s markets. It shows that most counterfeit items are shipped from China and Hong Kong. Most of all counterfeit items are “branded goods.” The amount of counterfeiting goods is increasing sharply. The Department of Homeland security is responsible for the seizures of counterfeited goods into the country. Textual Support 2: “The International AntiCounterfeiting Coalition (IACC) estimates that counterfeiting results in more than $200 billion a year in lost jobs, taxes and sales. Fortune 500 companies spend an average of between $2 million and $4 million a year each to fight counterfeiters.” Analysis 2:This part of the passage expresses the financial damage that counterfeiting causes. It states that counterfeit goods cause lost jobs, sales and taxes. Many companies and the government try to combat these fake good by spending millions of dollars. There is an effort to stop...
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