Protecting Your Business From Counterfeit Goods In Cyprus

As has been previously noted in the "Trade in Counterfeit and Pirated Goods: Mapping the Economic Impact" report of the Organisation for Economic Co-operation and Development & European Union Intellectual Property Office, counterfeiting hits almost ½ trillion euros a year. This can be traced from fashion and medicine to the fruits market and entails damage to the business reputation, lost sales and litigation costs among others.

Criminal systems see the rising significance of Intellectual Property rights (IPR) as an opportunity to free-ride on others' resources and contaminate trade channels with counterfeits. This is considered a primary financial danger that undermines innovation and hampers monetary development.