EU auditors call for strengthened IP protection and action on fees
Disparities in enforcement between countries partly to blame
The European commission must improve some of its regulations around the protection of intellectual property (IP) rights, according to a new report from the European Court of Auditors (ECA). In particular, it should update its system for calculating fees and strengthen IP rights enforcement.
IP rights ensure that businesses and designers profit from their creations. They also provide quality and safety assurances to consumers. IP-intensive industries, concentrated mainly in the manufacturing, technology and business services sectors, generate 45% of the EU’s economic activity, worth €6.6 trillion (£5.5 trillion), and provide nearly 29% of total EU employment. Each year, counterfeit products are estimated to lead to €83 billion in lost sales.