Intellectual property rights owners are increasingly feeling the pressure from the counterfeit goods that are invading the global market. Societies worldwide also suffer, as countless people are either slaves to these criminal black marketers or victims of their faulty products. The second part of this two-part feature takes a look at some of the economic and social problems posed by counterfeiting and other IP rights violations.
June 5, 2019
By and large, government regulations are adopted to achieve certain economic, social, and cultural objectives. However, excessive regulation can impose high burdens on society that outweigh these benefits. The current government of Thailand has undertaken regulatory reforms to address the problems posed by poorly designed regulations.