US firm backs RP drive vs counterfeiting

One of the biggest manufacturing companies in North America and the world has lauded recent efforts by the Philippine government to curb local counterfeiting of internationally renowned brands.

The US-based Caterpillar, Inc. said the pronouncements and actions by the government could significantly help restore the sagging image of the country in the international business community.

The Department of Justice (DOJ) recently said it is putting a stop to the rampant violation of laws pertaining to the protection of intellectual property rights in a bid to protect both brand owners and consumers.

DOJ officials said rampant brand piracy in the country is hurting both the country’s goodwill and image, and prejudices consumers who may be paying premium prices for what they believe are original products.

The National Bureau of Investigation (NBI) has also launched massive raids against outlets retailing suspected counterfeit products.

NBI agents seized as estimated P40 million worth of suspected pirated Caterpillar and CAT-branded personal items in a series of raids in Metro Manila last week.

Caterpillar, Inc. lawyer and spokesman Gilbert Reyes of the Poblador, Bautista, Reyes law office said the government’s recent moves have sent strong positive signals to the international investor community.

Reyes said the government is succeeding in its bid to show that it will not tolerate unfairly competitive business practices in the country.

He said the country is not lacking in laws that would protect intellectual properties including product brands, but added that the government needed to put teeth into enforcement of said laws.

The pronouncement of the DOJ and the raids by the NBI make a very good confidence rebuilding mechanism for the country, Reyes said.