High price of trade in counterfeit goods

A growing trade in fake goods, estimated at Pounds 300 million, could seriously damage the British economy, says Andrew Clark, senior lecturer in law at Warwick University. He says counterfeit goods take sales away from firms producing genuine goods and may damage their reputations. The trade also increases the price of genuine products and may even pose health and safety risks to consumers. The counterfeit goods trade also harms employment and robs the state of tax revenues.