Congress should act to allow US Customs and Border Protection to share additional information with trademark owners, common carriers, and e-commerce platforms on counterfeit goods, a Senate Finance Committee staff report said.
Greater information sharing by Customs with the private sector would help identify counterfeiters’ products and shipping practices, resulting in better intellectual property protection, according to the report that was released November 7.
In 2016, knockoff products accounted for $509 billion, the report said. Counterfeit toys, batteries, and pharmaceuticals also pose health and safety risks. Counterfeiters are increasing taking advantage of e-commerce platforms. The Trade Secrets Act prevents Customs… Bloomberg Law