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Article | April 30, 2005
Anticounterfeiting bill moves forward
A house subcommittee passed “The Stop Counterfeiting in Manufactured Goods Act” that increases penalties for distributing counterfeit goods. It grants trademark owners remedies already enjoyed by copyright and trade-secret holders.
The Grocery Manufacturers of America, which strongly supports the bill, noted that counterfeit goods often include brand-name foods, beverages, and consumer products. Such counterfeiting results in loss of consumer trust and an estimated $200 to $250 billion in lost sales annually.
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