Gov’t seizes P2.8-B counterfeit products | Inquirer Business
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Gov’t seizes P2.8-B counterfeit products

By: - Reporter / @amyremoINQ
/ 12:08 AM July 05, 2016

The National Committee on Intellectual Property Rights (NCIPR) confiscated about P2.8 billion worth of counterfeit and pirated products in the first five months of the year.

The figure represented a more than 260-percent increase from the P774 million recorded in the same period last year as government agents doubled efforts to curb piracy.

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Data from the Intellectual Property Office of the Philippines (IPOPHL) showed P536 million came from the confiscated haul of the National Bureau of Investigation (NBI), P14.3 million from the Philippine National Police (PNP), and P268 million from the Optical Media Board (OMB).

The bulk of the haul, equivalent to P2 billion, represented some 150,000 pieces of assorted counterfeit signature watches seized during a joint raid operation conducted by the Bureau of Customs (BOC) and the NBI in May this year.

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“Fighting counterfeiting and piracy is fighting corruption and criminality … If there is a proliferation of counterfeit products and pirated items, expect that many local businesses will suffer and the revenues of the government will be affected,” said IPOPHL deputy director general Allan B. Gepty.

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TAGS: Business, economy, National Committee on Intellectual Property Rights, NCIPR, News, ounterfeit, Products
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