The objective of the coalition is to gather information, data and expertise in intellectual property authentication, with the ultimate goal of “helping block, screen and take down infringing listings,” according to Alibaba. “The most powerful weapon against counterfeiting today is data and analytics, and the only way we can win this war is to unite,” said Jessie Zheng, Chief Platform Governance Officer, Alibaba Group.

According to the International Anti-Counterfeiting Coalition, which suspended the Chinese e-commerce giant’s membership in May 2016 following a dispute with brands such as Michael Kors and Gucci, the counterfeit goods market in 2015 was estimated at over US$1.7 trillion.

As previously reported by ILM, Alibaba launched the “Intellectual Property Joint-Force System” in June 2016, during its first Rights Holders Collaboration Summit in Hangzhou, China, which was attended by representatives from Louis Vuitton, Burberry and Apple. According to the company, its software currently scans around 10 million product listings daily. In the 12 months ending last August the company is said to have closed down about 180,000 third-party stores for trafficking in fake items. Reportedly, Alibaba also provided sufficient information to brands and law enforcement agencies to close 675 counterfeit goods manufacturing operations.

Jack Ma, CEO, Alibaba, has recently met with the newly elected U.S. President Donald Trump in New York, and hopes to create one million jobs in the U.S. by growing trade between small U.S. businesses and Chinese consumers. Amazon also recently announced that it would be creating around 100,000 jobs in the U.S over the next 18 months.

Source: USA Today