RESEARCH TRIANGLE PARK, NC — The Chairman of the Senate Judiciary Committee Arlen Specter (R-PA) introduced S. 1699, the “Stop Counterfeiting in Manufactured Goods Act.” According to the Motor & Equipment Manufacturers Association (MEMA), this is an important piece of legislation that would strengthen federal laws against product counterfeiting.
This is the companion bill to H.R. 32, also called the “Stop Counterfeiting in Manufactured Goods Act, which was passed in a unanimous vote by the House of Representatives on May 23.
“Our industry and others have been in close communication with the Senate on this issue. We are very pleased that this legislation has been introduced in the Senate and are very grateful to Chairman Specter, Senator Leahy, Ranking Member of the Committee, and all the co-sponsors of S.1699 for their support of American manufacturers,” said Paul Foley, president of MEMA’s Automotive Aftermarket Suppliers Association. “Our leaders in Washington understand that counterfeiting is a crime that is stealing good American manufacturing jobs. Also, product counterfeiting undermines U.S. and foreign safety standards, putting consumers at risk. We cannot let this go on, at home or abroad.”
The FBI estimates that product counterfeiting costs U.S. businesses $200 billion to $250 billion annually. Product counterfeiting is estimated to cost American automotive suppliers approximately $12 billion in lost sales annually.
In 2004, MEMA organized its Brand Protection Council to share best industry practices to detect and prevent product counterfeiting, educate law enforcement and media to the problem and lobby for stronger laws and intellectual property rights protection at home and abroad.
“Automotive suppliers and many other manufacturers will be working hard with our friends in the Senate to pass this bill, strengthen our laws and put more counterfeiters out of operation for good,” Foley said.
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