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KARACHI: The Overseas Investors Chamber of Commerce and Industry (OICCI) has claimed that intellectual property violations are costing the country an estimated Rs860 billion annually in lost revenue and taxes.
The chamber released its latest Intellectual Property Right (IPR) Survey during the visit of IPO-Pakistan Director General Nauman Aslam to the chamber.
Every six in 10 OICCI member companies participating in the survey, covering eight sectors, said IP rights are partially protected and have further room for improvement under Pakistan’s current laws.
Trademark violations were rated the most prevalent form of infringement. On enforcement, the picture is equally stark: most IP disputes take more than three years to resolve, with the survey revealing that cases rarely reach conclusion in the early stages of the process.
