9 months Value of seized fakes hits P23.6B in 2018 Manilatimes |Biz
Seized pirated and counterfeit goods last year grew by 188 percent to P23.6 billion, the highest the National Committee on Intellectual Property Rights (NCIPR) has recorded since its establishment in 2008. In a statement on Thursday, the Intellectual Property Office of the Philippines (IPOPHL), along with NCIPR, said confiscated fake products last year grew almost by threefold from P8.2 billion in 2017. Fake cigarettes and alcohol were valued at P20.24 billion and P3 million respectively, representing 86 percent of the total seized products. “Consistent with the trend we’ve seen all year, fake cigarettes and alcohol led this record haul — ... more