VDMA7.3 billion euros in losses due to product piracy
Product piracy and know-how theft continue to cause considerable damage to German machine and plant manufacturers. China remains the biggest counterfeiter by a wide margin. The VDMA presented the latest figures on this at the Hannover Messe 2018.
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"In addition to the loss of sales and jobs, the affected companies are also faced with consequences that are difficult to assess in monetary terms," says Steffen Zimmermann, Head of the VDMA Competence Center Industrial Security. He cites loss of image, loss of market lead and unjustified recourse claims as examples.