As the Economy Tanks Pirates Need to Jump Ship

While the world is reeling from economic shock all over, there is a new resurgence in counterfeits seizures. Pirates who have enjoyed a prosperous few years without much government interference can most likely blame the economy for this new attitude in government intervention. It is actually a good thing for the government to try to intervene because these goods and their profits are not actually being reported to the government. The government can't benefit from the revenues. So with piracy there is a loss of potential revenues for both designers and the government. Now that the government is feeling a pinch, they are more willing to regulate and crack down on bootleggers. Here is an excerpt from Women's Wear Daily:

"COUNTERFEIT SEIZURES UP: U.S. Customs and Border Protection said last week that it seized more than 400 shipments of counterfeit and pirated goods in the New York and Newark, N.J., seaport in the fiscal year ended Sept. 30. The merchandise had a domestic value of about $100 million, a 53 percent increase over the previous year. For the total New York area, Customs last year conducted more than 700 intellectual property rights seizures, of which counterfeit textiles, apparel and footwear accounted for 78 percent."

I say bravo for the U.S. Customs and Border Protection for recognizing the legal rights of IP holders. It may have come because of government's own stake in revenues, but better late than never right?