Counterfeit Merchandise Impact The U.s. Economy

900 Words Dec 28th, 2015 4 Pages
1) Please address the following as they pertain to Intellectual Property:
What is Intellectual Property (IP) and how does counterfeit merchandise impact the U.S. economy? When people steal other people 's ideas or product designs, it stops economic improvements for the economy. No one wants to place money, time, and other resources into creating new concepts or products to have someone obtain them within a few seconds and sell the product or idea as their own. The thieves generally sell the stolen products cheaper than the original product reducing the original product 's value. As a result, people that have new ideas are less reluctant to invent.
What safety and health concerns are posed by counterfeit products? Stolen Intellectual Property links to safety issues with medicines. The products do not have the same characteristics reducing the quality of the treatment placing patient 's lives at risk. If electronic products do not perform properly, the product may malfunction causing an accident leading to a serious injury or death.
How does IP theft pose an existential threat to national security? Counterfeit electronics also filter into DOD 's supply chain ending up in combat equipment. Some of the counterfeit products do not meet MIL Specification causing the equipment to malfunction.
2) Explain the purpose of and reasoning behind Executive Order 13,133. Specifically, what were the goals of the working group that was established by the Executive Order? President…
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