The European Commission (EC) has launched a new site designed to help SMEs protect their intellectual property from piracy.
Developed with help from US regulators and launched at the Transatlantic Economic Council in Washington, the TransAtlantic IPR Portal provides SMEs with advice, help and support on how to prevent the violation of their intellectual property rights (IPR), V3 reports.
According to the EC, trade in pirated goods is worth almost $250 billion a year.
European Commission Vice-President and Commissioner for Industry and Entrepreneurship Antonio Tajani said: "Improved IPR protection and enforcement will result in greater employment prospects and economic growth. Counterfeiting and piracy cause great damage to businesses, not least to small and medium size enterprises.”
The EC said that the site will “offer guidance” to enterprises looking to do business in other countries, as well as “strengthen cooperation between the EU and the USA.”
“Both the EU and US are committed to helping companies compete fairly on both sides of the Atlantic,” he added.