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Assessment of damages for infringement of intellectual property (IP) rights

October 2022

Any IP-protected product can be counterfeited. Counterfeit products range from high-end consumer luxury goods (e.g., watches or perfumes) to business-to-business products such as machines, chemicals and other consumer goods. The enforcement of IP rights not only leads to improved sales by removing infringing goods from the marketplace, but it can provide a means to recover losses in revenue (i.e., infringement damages).

Trade in counterfeit and pirated goods is a growing problem that

  • affects the sustainability of businesses that hold protected IP rights as part of their assets,
  • discourages innovation and
  • works against economic growth.

According to the Organisation for Economic Cooperation and Development, trade in counterfeit and pirated goods was estimated to represent up to:

  • 2.5% of global trade in 2013, equivalent to US$461 billion; and
  • 3.3% of world trade in 2016, the equivalent of US$509 billion.

Rights holders are thus suffering huge losses each year, while the criminal networks that are behind the trade profit enormously.

What is the situation in Romania as concerns anti-counterfeiting actions?

What are the criteria available for assessing the damages?

Bogdan Cheran and Oana Ionescu authored an article focused on answering these questions and more. The entire piece, prepared for and published by ILO/Lexology is available HERE.

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ILO is a premium online legal update service for major companies and law firms worldwide. In-house corporate counsel and other users of legal services, as well as law firm partners, qualify for a free subscription.

To raise awareness on intellectual property aspects and to help companies understand the relevant concepts, risks and benefit connected to such, SIMION & BACIU constantly contributes expert views to reputable publications, such as ILO.

SIMION & BACIU is a 2-time winner at the much-coveted Romania Law Firm of the Year award by Managing IP in 2021 and 2022. Also, the firm is the winner of the prestigious Trademark Firm of the Year for Romania at the 2022 Global IP Awards Gala presented by IAM and WTR.

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