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How Does Counterfeit Merchandise Impact The Economy

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What is Intellectual Property (IP) and how does counterfeit merchandise impact the U.S. economy? Intellectual property is anything created or invented by a person, a group, or government. The creation can be something tangible or intangible and does not necessarily need a commercial value. It may be a digital photograph an artist never intended to sale but is copyrighted for moral value and something to share. However, should someone use the digital photograph to make a profit, theft of intellectual property is committed. The impact of counterfeit merchandise basically steals the “American Dream” from the creator. Copying the invention is stealing an idea of another person or team. Taking credit for someone else work has never been lauded on an ethical standpoint. One example of impacting the the U.S. economy is the sales of counterfeit American apparel in other countries. Places …show more content…

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