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July 19, 2006

Malaysia gets it on piracy and counterfeiting

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The Malaysian Domestic Trade and Consumer Affairs Minister says that heavier fines and faster court processing are needed to combat piracy and counterfeiting.

Mohd Shafie said raids on six factories netted CD and VCD machines worth several million ringgit.

Now, I have no idea how much a ringgit is. But I do know what factories are.

The point here is that IP piracy is big-time, lucrative crime. It's not some little cottage industry where poor people in developing countries are selling pirated CDs and DVDs because it's the only way they can scrape together enough rice for their evening meal. It's not a path to economic development. It's crime, pure and simple, and it's big-time crime.

Later this year IPI will be releasing the results of some macroeconomic studies that we're doing on the impact of piracy and counterfeiting on the U.S. economy. The results are going to be massive. From an economic standpoint, you cannot overestimate the importance of the U.S. government taking action and putting pressure on other countries to take action against this crime.

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