Fake apparels, footwear and accessories are taking away US $ 28 billion from the legitimate EU businesses, quotes the latest study by Office for Harmonization in the Internal Market (OHIM). The report further states that the losses go beyond the financials, as 363,000 jobs are lost since the legitimate business owners make and sell less due to the manufacturing of fakes. The study, released through the European Observatory on Infringements of Intellectual Property Rights, entrusted to OHIM, also assesses the indirect effect of the counterfeit trade. The report is expected to help policy makers and help consumers make better informed choices.
