ICC Launches Initiative to Combat Counterfeiting and Piracy

The International Chamber of Commerce (ICC) Nigeria, has partnered with Business Action to Stop Counterfeiting and Piracy (BASCAP)‎ to launch an initiative to address issues of counterfeiting and piracy in the nation. ‎ICC explained that the situation is related to several factors like corruption, out-dated legislation and weak enforcement mechanisms, including a lack of national policy on combating counterfeiting and piracy. ‎According to ICC, investment, trade and economic growth are being penalised by the negative effects of these illegal practices that also affect consumers’ health due to counterfeit practices in sensible industries like pharmaceuticals and cosmetics. ICC  during the Anadach workshop entitled: “The Dynamic Dole of Intellectual Property in Promoting Innovation and Economic Development in Emerging Markets”when it launched its report tagged: “Promoting and Protecting Intellectual Property in Nigeria” in Lagos, said the report received valuable input, support and endorsement from ICC Nigeria, including from key local partners like the Standards Organisation of Nigeria (SON), the National Agency for Food and Drug Administration and Control (NAFDAC), the African Intellectual Property Group (AIPG) and the Intellectual Property Law Association of Nigeria (IPLAN). The ICC Nigeria Vice Chairman, Mr. Raymond Ihyembe and Secretary General, Mrs. Olubunmi Osuntuyi presented the report to an audience of practitioners, policy makers and brand protection executives in the Intellectual Property (IP) field.     Source: ThisDay Newspaper

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This article was first published on 12th August 2015

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