No more faking it

12.00.00am GMT Thu 11th Mar 2004

Potentially dangerous counterfeit drugs - one of many 'faked' products.

In the European Parliament this week, MEPs adopted a new law against piracy. "This new law on the enforcement of intellectual property rights is good news for business and innovation, and bad news for the counterfeiters", said Lib Dem Euro-MP, Bill Newton Dunn, after the vote.

The East Midlands MEP continued:

"The European Parliament has struck a blow against the multi-billion pound counterfeiting industry, which is increasingly linked to Organised Crime. Counterfeited goods range from food and toys to alcohol, medicines and cosmetics. These fakes not only harm creators and businesses but can also put the health and safety of people who buy them at risk. There is no guarantee of good quality if you buy a fake, and no redress if something goes wrong."

"The adoption of this law is good news for the fight against counterfeiting and piracy, and will help to promote competitiveness and innovation in the East Midlands."

"It is estimated that 'faking it' cost the EU's legitimate economy € 8 billion between 1998 and 2001."

The Directive will introduce a minimum, high standard for the protection of intellectual property rights across the EU. Commercial counterfeiters could face civil penalties, including seizure of property and bank accounts, if they are found guilty by national courts. Member States are free to apply criminal sanctions if they wish.