Counterfeit Merchandise Impact The U.s. Economy

During retail theft, the stolen items don’t just disappear into thin air. Every item that is taken without being paid for in the store still has to be paid for by the company and manufacturer. This can cause major setbacks in store production and companies a lot of debt. They are handing over money they are not getting back. Being in this situation, forces them to raise prices to stay in business or pay off what has been taken. Shoplifters who don’t get

The pharmaceutical industry along with the manufacturers of healthcare products and technologies often encourage the misappropriation and distribution of marginally beneficial products and technologies in the healthcare industry. These companies often use various advertising methods to influence members of the public to request their products and services without adequate knowledge of their effectiveness and implications to their medical condition.

For a long time we have strived to protect what we have made from the hands of those who steal. Nowadays we have a huge problem with infringement and that is due

Secondly, it reduces the time for patient’s evaluation. Due to DTC, drug companies are rarely encouraged to research and evaluate the effect of drugs on patients. The companies do not research enough to evaluate the side effects of drugs before the drug administration. This will cause crucial damages to patient’s health. Same is the case facing by PharmaCARE who had to face negative consequences of drugs because the company was having lack of research before administrating the drug. Due to direct marketing, patents do not feel the need for taking doctor opinion and take self-treatment which sometime cause risk to patients life.

Intellectual property represents ideas created by minds of humans that require certain rights for their use. Intellectual property gives companies a competitive advantage and attracts the attention of other business partners and investors (Lee, 2016). With such importance, it is necessary for the law to protect these ideas from being used by unauthorized individuals. To shield from this, trade secrets, patents, and copyrights are used to protect the ownership of intellectual property (Legal Information Institute).

While this case is literally full of negative aspects, we will only focus on the main points for both arguments. Pharmaceutical companies want to be sure that the products they spend years and millions of dollars to create are not easily reproduced and sold at discount prices. The profits pharmaceuticals make of their patented products are supposed to refinance new research. So taking away their exclusive distribution rights and allowing other manufacturers to just copy the product and sell it at

Also, the Rights theory is appropriate in this case, because one might argue that basic human rights are involved. Merck might be responsible to do research with ivermectin if it’s decided that some basic right is being broken.

On the way to “Twister Two” one of my friends suddenly had a candy bar in his possession. When he was asked how he got it, he simply replied, “I stole it.” It was so amazing to me that he could do that, and act as if it was no big deal. To me stealing would be a thing that needed to be planned and executed, but to him it was just another place that he ripped off. He explained that it is easy to do, “you just grab what you want, wait ‘til no one’s looking, and then walk out.” This is when I first began pondering the idea of stealing. I had never stole before because I knew it was against my morals, but there was that rebel in me that wanted to try it. He, on the other hand, had probably stolen so many times that he could do it with his eyes closed, and he had never been caught. Lucky him.

In the recent years, business become more larger due to the advancement of technology, a renewed enthusiasm for entrepreneurship and a global sentiment that favors international trade to connect people, business and market. The economist emphasize about the international trade can increase the production of goods and service, increase the demand from the consumer in local or international, the diversification of goods and services and the stability in the supply and prices of goods and services. As a result, it becomes the main part of the international business and motivated countries to trade with borders. The United States implied the government intervention since the great depression through the financial sector rescue

At present, stealing comprises a much broader kinds of activities than it used to; it would be enough to remember shop-lifting or numerous facts of counterfeit product utilization when intellectual property is stolen against copyright-based laws and regulations. Stealing, therefore, is expanding and spreading; moreover, the very notion of what is stealing becomes modified and fuzzy. What are then the instruments that the consequential approach

There is such a legal concept as "intellectual property". Intellectual property is defined as the creation of any intellectual innovation by an individual such as musical, literary, and artistic works; discoveries and inventions; and words, phrases, symbols, and designs. The law provides him exclusive rights to this innovation and is strictly against theft or plagiarism in any way. Innovators can safeguard their property by one or more of the following: copyright, trademarks, patents, industrial design rights and in some jurisdictions trade secrets.. Copyrights, patents, and trade secrets are each authored by different Offices. Each is based on the Laws of Commerce. (LII. Intellectual property). Cultural attitudes, in fact, esteem words and knowledge above that of certain other property, since knowledge is something that cannot be as easily duplicated as, for instance, an article of common furniture can. To illustrate the veneration that contemporary society accords intellectual invention, software is more expensive and valuable than hardware sink the

In addition, the widespread financial gap between the costs of production of originals and knockoffs causes design piracy to have some economic ramifications. Because the knockoff designs are manufactured at lower costs, they tend to sell for much less; for example, a replicate might sell for up to one-third the price of the original design (Wilson). This lowered price, combined with the fact that the copied design would hit store shelves first, causes consumers to deviate more

Therefore, protection of patents is one of the key conditions necessary for further development of the pharmaceutical industry. At the same time, non-efficient legislation that does not provide the necessary level of patent protection is one of the factors that hamper expansion of “Big Pharmaceutical” companies to the developing countries8.

Cipla should look to protect their patents on particular medications and explains why rules governing intellectual property rights in industrialized nations should not apply to poorer countries.

Intellectual property is critical to many companies in order to foster innovation and boosting their revenues. Many industries rely on the protection of patents, trademarks and copyrights as they are valuable assets for companies’ success. By protecting intellectual properties, it ensures that the original owner reaps full benefits from his/her ideas, features, products and creations.