Product piracy is threatening small- and medium-sized companies: EU

FILE PHOTO: European Union flags flutter outside the EU Commission headquarters in Brussels, Belgium June 17, 2022. - REUTERSPIX: Trade in counterfeit goods and pirated copies is increasingly causing problems for small and medium-sized businesses, with some unable to survive, according to a European Union watchdog.

These companies often lack the capacity to take action against counterfeiters, and can be ruined by the loss of sales, reputational damage and the loss of competitive advantage, the study found. These counterfeit goods are often inferior and pose a risk to consumer health and safety, the EU agency warned.

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