Speaking to City delegates attending a seminar in London's Docklands on Tuesday, the UK's Trade and Industry Secretary, Patricia Hewitt announced a new initiative to clamp down on violations of intellectual property (IP) rights in the United Kingdom.
Ms Hewitt announced that priority in tackling copyright and other IP violations would be given to creative industries such as music and film, publishing, design, fashion, architecture and computer game design.
She also revealed that an estimated 7% of the world's trade can be accounted for by transactions involving counterfeit goods, and suggested that this state of affairs is preventing the UK from fully benefiting from the sale of creative talent overseas.
A strategy group on the IP issues raised which will be chaired by Arts Minister, Estelle Morris and Science Minister, Lord David Sainsbury will take place in mid-July.
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