Pirates of GlobalizationThe Latin phrase caveat emptor which means let the buyer beware works to let peopleknow about piracy and its global distribution. Pirates are good at violating trademarks, patents,and copyrights to duplicate high-quality products of high-end brands; therefore, they can sellthese products for the same amount of money while producing them for cheaper. According toresearch pir
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Pirates of Globalization
The Latin phrase caveat emptor which means let the buyer beware works to let people
know about piracy and its global distribution. Pirates are good at violating trademarks, patents,
and copyrights to duplicate high-quality products of high-end brands; therefore, they can sell
these products for the same amount of money while producing them for cheaper. According to
research pirates represent 5 to 7 percent or $500 billion of global trade. Piracy is everywhere and
with today’s technology is more straightforward to duplicate a high-end product with a similar
quality to the original. Some products that pirates reproduce are books, software, films, music
CDs, pharmaceutical drugs, and automotive parts. Just like any other business, counterfeiters
have evolved continuously with time. Pirates used to employ sidewalk vendors, and in backstreet markets; however, right now they use technology and the internet to distribute their
products just like any honest business do. One of the most significant issues is that counterfeiters
have been using legitimate websites like eBay to sell their fake products.
Consequently, best-known brands like New York retailer Tiffany & Company who
discovered that pirates were selling their products through eBay. Moreover, governments from
different countries like India and China are involved in the production of pirated goods. Overall,
pirates have found different ways to keep distributing and growing in today’s market.
Technology has given them the opportunity to expand globally and be at least 10% of the global
trade.
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