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"Governance"
Corporate America calls for action on counterfeiting
Counterfeit and pirated goods are costing the US economy dear and “endangering” the American public, a US Senate Panel has heard.
Giving evidence, experts from the automotive, pharmaceutical, and product safety industries said that pirated goods were a growing and costly threat.
"A variety of counterfeit products enter the stream of commerce everyday, many posing unsuspectedly serious fire and electrical hazards that endanger the American public," Brian Monks, vice president of anti-counterfeiting for Underwriters Laboratories Inc, told a hearing by the panel.
Monks said the counterfeiting of his company’s certification mark left “consumers with a false sense of security” of product safety.
Mike Rose, vice president of supply chain technologies for Johnson & Johnson, said that urgent action was needed and called for the implementation of an overarching federal policy.
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