House passes anti-counterfeiting bill
The U.S. House of Representatives has passed an anti-counterfeiting bill, "which will provide additional domestic and international means to destroy counterfeit products," according to officials from the Specialty Equipment Market Association (SEMA).
The bill, which is officially called the "Stop Counterfeiting in Manufactured Goods Act," was passed by the U.S. Senate last month and now goes to President George W. Bush to be signed into law.
The legislation is intended to strengthen U.S. trademark law by mandating the seizure and destruction of counterfeit goods, in addition to the equipment, tools and packaging used to produce counterfeit goods.
"It also would clarify that it is illegal for counterfeiters to sell counterfeit versions of the trademarks themselves."
Counterfeit parts cost the auto parts industry some $12 billion each year, according to SEMA, which is a member of the Coalition Against Counterfeiting and Piracy, an industry-wide effort led by the U.S. Chamber of Commerce and various trade associations.