IFPI's John Kennedy welcomes unprecedented business leaders' group against piracy

London, 4 October 2005

IFPI, representing the recording industry worldwide, today welcomed the formation of a unique coalition of global business CEOs against counterfeiting and piracy. Corporate leaders from a wide spectrum of industries and countries participated in the meeting in London, including the food and drink, pharmaceutical, textile, home products, finance, television, software and music sectors.

John Kennedy, Chairman and CEO, said: "IFPI welcomes and is actively supporting this initiative. It is unprecedented to see such a large and high level group of international business leaders gathering together to focus on the critical issue of counterfeiting and piracy, which affects virtually every industry in every corner of the world. Governments have for years been hearing the music industry calling for decisive action to stop piracy, step up enforcement and protect intellectual property - now they will be hearingÂ this message from a far bigger and wider group of industries representing every geographical region. This chief executives' group is set to grow in size and influence and will be very difficult for governments ignore".

Background for editors

Business leaders from some of the world's top companies today formed a unique coalition to take the fight against the theft of intellectual property to the highest international level. Meeting under the banner "Business Action to Stop Counterfeiting and Piracy" (BASCAP), the corporate leaders warned that this illegal activity - estimated at $600 billion - is threatening the knowledge-based economy of the 21st century.

BASCAP, an initiative of ICC (International Chamber of Commerce) aims to:

urge governments to act against piracy and counterfeiting and to allocate resources towards improved intellectual property enforcement;
increase public and political awareness of the economic and social harm caused by counterfeiting and piracy and;
ensure that intellectual property is respected and protected worldwide.