IPR violations hamper investments - AMCHAM Director
Ruwanthi Abeyakoon
Violation of Intellectual Property Rights (IPR) damages the potential
for investment in the country, Executive Director, American Chamber of
Commerce in Sri Lanka (AMCHAM), Gordon Glick told Daily News Business.
“IPR violation will have a significant impact on the investments at a
time when the Government is trying to attract foreign investments. IPR
violation also hurts global businesses. Billion rupees of revenue will
be lost and the production will go down,” he said. He pointed out that
the average consumer buys counterfeits as the economy compels them to.
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Executive Director AMCHAM Gorden Glick and
Project Manager, Ransi Dharmasiriwardhana
Picture by Sumanachandra Ariyawansa |
“People cannot afford to buy genuine products and the penalties for
using fake commodities are weak. Consumers simply become victims of
fraud. The violations promote criminal activities, deprive the nation of
much needed tax revenue and employment opportunities,” Glick said.
“IPR must be safeguarded as the progress and well-being of any
country rests on the protection of its creative efforts and ensuring an
environment to attract investment. These activities will pave the way
for new employment and will increase Government revenue,” he added.
Glick noted that industries most affected by IPR violations are
pharmaceuticals, garments, motor spare parts, entertainment and software
industries. “They suffer enormous losses to both reputation and
profitability.
The National Intellectual Property Office receives a shocking number
of pharmaceuticals each year. Sri Lankans are constantly plied with fake
drugs. Unable to differentiate, they end up using worthless products,
which cause harm,” he said.
Project Manager, AMCHAM, Ransi Dharmasiriwardhana said the National
IPR steering committee was launched recently in collaboration with the
European Chamber of Commerce.
“The steering committee will assist in raising awareness on IPR. The
violations will have an impact on every sector. This issue will have
long-term impacts and is difficult to tackle. Business community has to
look at this problem seriously. The enforcement of existing laws should
be strengthened,” she said.
She added that the enforcement of Intellectual Property Rights will
avoid fake commodities reaching the local market.
AMCHAM in association with the Ceylon Chamber of Commerce and the
National Intellectual Property office initiated `Get Real’, an awareness
campaign to help the general public better understand IPR and the
drastic effect of violations on both themselves and the country.
Apart from the media campaign, AMCHAM also held an awareness campaign
on IPR for magistrates. |
