Product, brand piracy cost German manufacturers $9 billion: Survey

Posted On: Apr. 25, 2018 5:57 AM CST

A survey by German engineering association VDMA found that product and brand piracy cost local manufacturers nearly $9 billion in 2017, Reuters reported. The Verband Deutscher Maschinen und Anlagenbau said that piracy affected more than 70% of companies. The survey found that China was both the largest manufacturer and the largest market for counterfeit products.