State Lawmakers Pass Anticounterfeiting Bill with Support from International Trademark Association
NEW YORK, NY – March 24, 2011 – The International Trademark Association (INTA) commends Mississippi Governor Haley Barbour and state lawmakers for passing and signing a new anticounterfeiting legislation into law. The bill was strongly supported by INTA in coalition with the International AntiCounterfeiting Coalition. It was also one of the key legislative bills of Mississippi Attorney General Jim Hood, who has spearheaded a national emphasis with other Attorney Generals on hazardous counterfeit products.
The new legislation provides tools for the seizure and forfeiture of property while also providing due process to lien holders and parties with security interests. It also fixes technicalities in the state law and now provides law enforcement with additional tools to help fight the spread of counterfeit goods throughout Mississippi.
“Mississippi lawmakers showed their dedication to protecting businesses and consumers by enacting this legislation,” said Alan C. Drewsen, Executive Director of INTA. “The sale of counterfeit goods is a serious problem, and the cost to Mississippi businesses can hinder the state’s economic growth. The new bill provides stronger protection from this threat, and we congratulate the state of Mississippi on this important development.”
According to the International Chamber of Commerce Business Action to Stop Counterfeiting and Piracy, global economic and social impacts of counterfeiting and piracy will reach $1.7 trillion by 2015 and put 2.5 million legitimate jobs at risk each year.
Aside from the revenue that businesses lose to counterfeit goods, products like fake pharmaceutical goods and electrical appliances can be especially harmful to unsuspecting consumers.
The International Trademark Association (INTA) is a worldwide association of member companies and firms that support and advance trademarks and intellectual property as elements of fair and effective global commerce.