eBay Takes a Small Step Toward Fixing the Internet's Huge Counterfeiting Problem
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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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