IP losses to top $100 billion in 2018 (2024)

Business are set to lose more than $100 billion in 2018 thanks to 3D printing as the world goes back to becoming makers rather than buyers. So therecent International Trademark Association gathering focused on practical ways to combat the growing problem of piracy.

The world of manufacturing is wringing its hands after Gartner Analysts published that headline figure in 2014. The technology insight firm predicted that the industry would already be feeling the effects by now, even though it might know nothing about the actual offence.

Criminals simply need to create a wax or resin model of a part to produce a mould that can then be used with traditional manufacturing methods. The worrying part is that with 3D printers advancing at breakneck pace then soon they won’t even need that. Criminal gangs will soon be able to mass manufacture almost any product with just a 3D printer, which has serious connotations for us all.

Huge turnout at trademark gathering

It’s a sign of the times that the recent International Trademark Association meeting in Orlando, Florida, has 10,000 registrations from more than 140 countries and 968 companies. The idea was to formulate a strategy and advise companies on the best way to enforce their IP.

It’s easy to see why the industry is getting nervous. It is virtually impossible to enforce Intellectual Property laws when someone downloads and prints a design at home.

It simply does not make sense to go after everyone and the industry will burn itself out and create a groundswell of bad feeling if it follows the example of the music industry. Sending lawyers after children with exorbitant claims simply doesn’t look good. So the industry will have to pick its battles.

IP losses to top $100 billion in 2018 (1)

Legal battles are on the horizon

Of course there will be legal bloodshed, there simply has to be. If a competitor simply copies a design or makes your company’s work freely available then something has to be done. Even a private individual selling a mass of exact copies on eBay could damage a company’s reputation, so they will have to be dealt with as well.

A lot of companies are watching the file repositories, too, which have the potential to become the Napster or Pirate Bay of the 3D printing world.

The conference in Orlando concluded that every company should carefully consider whether an individual even knows they are infringing on copyright. Then companies need to decide if it actually costs them money and it strays too close to their core business, in which case a lawsuit might be unavoidable.

Friendly contact can avert a war

A phone call or an email is often all it takes to head off a potentially costly and time consuming lawsuit. A stock cease and desist letter as a follow-up will deal with most infringers, too, and 3D printing might want to create its own DCMA takedown notice that could save the lawyers’ time. Only the most dogged IP thieves will continue in the face of a strong legal letter, though, which singles them out for follow-up action.

Of course those that are well-versed in IP law can actually use the initial friendly contact as a signal to launch a declaratory judgement case of their own. So there is no simple answer. Companies and their lawyers will have to take each case on its own merit.

Is IP dead?

Guest speaker John Hornick actually suggested that IP rights will effectively go out the window as 3D printing becomes mainstream. We have the capacity right now to simply scan an object and copy it within minutes. Technically the IP rights have been infringed, but who will know? If it is simply impossible to prove that an infringement has taken place, he argues, then IP law is impotent.

It will also be possible to scan an object, make minor changes and then argue the case in court if required. So 3D printing has incredible potential, but there are some real hurdles to overcome when mass manufacturing becomes a reality.

Could price make piracy the more complex option?

One obvious solution is to embrace change, as the music industry eventually did with digital files, and drop the prices to a point where piracy simply becomes a less attractive option. If people can freely buy the files for a lesser price from the major repositories, then they will be less inclined to scour torrents and dark corners of the web for the files they need.

As for rival companies infringing on rights, that will simply have to go to court. The first cases will be interesting and with $100 billion at stake, they are battles that simply have to be fought.

IP losses to top $100 billion in 2018 (2024)

FAQs

How much money has been lost due to cyber attacks? ›

US Citizens Lose Billions to Cybercrime

In its 2023 Internet Crime Report, published this week, the FBI revealed that Americans lost $12.5 billion to cybercrime during 2023. That works out to roughly $40 in losses per US citizen.

How much money is lost to cybercrime every year worldwide? ›

The damages for 2018 were estimated at $8 billion, and for 2019 the figure rose to $11.5 billion. The latest forecast is for global ransomware damage costs to reach $20 billion by 2021 — which is 57X more than it was in 2015.

What is the expected cost trend for cybersecurity breaches worldwide? ›

How much could we lose to cyberattacks in the future?
YearEstimated annual cost of cyber-attacks globally (USD)Percentage increase from previous year
2024$9.5 trillion*19%
2025$10.5 trillion*10.5%
2026$11.3 trillion**7.6%
2027$12.4 trillion**9.7%
3 more rows
Feb 5, 2024

Which country gets hacked the most? ›

The 5 countries with the highest amount of breached accounts in Q3 of 2022 were Russia, France (13.8 million), Indonesia (13.2 million), the US (8.4 million) and Spain (3.9 million). These countries accounted for more than half of the total breaches globally in Q3 2022.

How much cybercrime losses to US consumers in 2017 were estimated? ›

Losses totaled $19.4 billion and each victim lost an average of nearly 20 hours (19.8 hours) dealing with the aftermath.

How much money has the US economy lost due to cybercrime? ›

Annual amount of financial damage caused by reported cybercrime in U.S. 2001-2023. In 2023, the monetary damage caused by cybercrime reported to the United States' Internet Crime Complaint Center (IC3) saw a year-over-year increase of around 21 percent, amounting to a historical peak of 12.5 billion U.S. dollars.

What percent of cyber criminals get caught? ›

On average, less than 5% of hackers and other cybercriminals are caught, and only 0.3% of all reported cybercrime complaints are enforced. There are many issues that come with trying to police cybercrime.

Is America being cyber attacked? ›

America's computers are under attack and every American is at risk. The United States Government, critical infrastructures, American business institutions, and our personal data are being compromised by nation-states and hacker groups.

How much will cyber attacks cost in 2024? ›

A breakdown of global cybercrime damage costs predicted by Cybersecurity Ventures in 2024: $9.5 trillion USD a year. $793 billion USD a month. $182.5 billion USD a week.

How much will the cyber crime cost in 2024? ›

A report on cybersecurity predicted that the cost of cybercrime would reach a massive $9.5 trillion in 2024 and exceed $10.5 trillion in 2025. In the United States alone, an FBI report predicted the potential loss resulting from cyberattacks and fraud would hit over $10.2 billion in 2022.

What are the statistics of cyber attacks? ›

Cybersecurity Fast Facts

As the globe becomes more interconnected and reliant on digital technologies, cybercrime is surging. The year 2023 saw a notable increase in cyberattacks, resulting in more than 343 million victims. Between 2021 and 2023, data breaches rose by 72%, surpassing the previous record.

How much do cyber attacks cost the US? ›

Cyber crime costs in the United States reached an estimated 320 billion U.S. dollars as of 2023. Between 2017 and 2023, this figure has seen a significant increase of over 300 billion U.S. dollars.

How much has cyber attacks increased? ›

Cyberattacks have more than doubled since the pandemic. While companies have historically suffered relatively modest direct losses from cyberattacks, some have experienced a much heavier toll.

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