eBay Takes a Small Step Toward Fixing the Internet's Huge Counterfeiting Problem
The internet has made it easier to sell counterfeit or fake goods.
In fact, trade in counterfeit and pirated goods has grown from $250 billion annually in 2008 to $461 billion in 2013, according to a 2015 report from the Organization for Economic Co-operation and Development (OECD). In fact, the international organization that promotes economic development estimated that fake goods make up more than 2.5% of all world trade.
That's a stunning number, and law enforcement has struggled to keep up, according to a 2015 Consumer Reports study. Counterfeit goods are a problem that all retailers must face, but companies with open marketplaces, like eBay (NASDAQ: EBAY) and Amazon (NASDAQ: AMZN), remain especially vulnerable to them.
Source: Fool.com
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