China is not known for coming down hard on counterfeiters. It is commonly understood by business-owning Americans (who source their goods from Chinese factories) that their intellectual property will most likely be stolen. A China-readied patent for a product is usually not even worth the paper it’s printed on. Many, successful businesses (especially small businesses) avoid Chinese patents altogether. Companies cannot trust the Chinese, and Alibaba’s Jack Ma wants to do something about it.
Billionaire Jack Ma is now coming forward against counterfeiters, which is ironic because Alibaba has profited greatly by selling cheap, counterfeit, Chinese goods.
Jack Ma sees a future in China where counterfeiters could be punished as harshly as drunk drivers. Although measures like this could have a large effect on the Chinese black market, it will without a doubt help Americans trust factories (and their intellectual property) more while looking to do business overseas.
In a rare move, Jack Ma is actually speaking against current Chinese law. The country is known to be a hub for censoring criticism against their government, so for all we know, Ma is actually speaking for the country on an idea they decided to push. Either way, protecting property is never a bad idea.
“Billionaire Alibaba-founder Jack Ma wants China’s top lawmakers to come down harder on fake goods—the very same plea voiced by global brands that have accused the e-commerce service of harboring knock-offs.
The Alibaba Group Holding Ltd. chairman appealed to the National People’s Congress convening in Beijing this week to penalize counterfeiters as harshly as drunk drivers. In an open letter published on his Weibo account Tuesday, Ma said enforcement had been too lax, and the authorities should raise maximum, prison sentences and other penalties to deter illegal profiteers.”
It has been previously reported China has been stealing intellectual property that is mostly worthless. Former-Speaker of the House Newt Gingrich disputed this by saying China has stolen $360B from the United States. Whatever the cost may be, it’s not debatable that protecting property rights isn’t a step in the right direction for China.