Reasons for investing in anti counterfeiting solutions


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Counterfeiting poses health concerns for consumers worldwide, safety issues for law enforcement agencies and financial hassles for the world economy.

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Reasons for investing in anti counterfeiting solutions

  1. 1. Reasons for Investing In Anti-Counterfeiting SolutionsThe Global Anti-Counterfeit Packaging market is estimated to reach approximately US$82. 2 billionby the year 2015, according to GPI. This growth in the market is driven by factors like proactivestrategies undertaken by numerous enterprises to avert brand erosion and revenue loss, increasedfocus on preservation of drug efficacy, agility and speed in new product development and the increasedconsumer awareness about the hassles of counterfeiting.Counterfeiting poses health concerns for consumers worldwide, safety issues for law enforcementagencies and financial hassles for the world economy. Today the food and pharmaceutical industrieshave become extremely vulnerable to the sophisticated operations of third party intruders andcounterfeiters. Owing to the widespread product counterfeit concerns, branded drug companiesprovide substantial losses every year. As a result, consumer product manufacturers look for online anti-counterfeiting solutions to protect this lucrative market.As the counterfeit security threat graph is going up a tad bit rapidly for manufacturer’s comfort, thedemand for anti-counterfeit products and services too is rising. Embracing anti-counterfeit technologiesin the form of tamper-evident closures, holograms, and markings and RFID labels are efficient tocombat counterfeiting; coupled with the monitoring of the online markets where these products aresold. Service providers specializing in enterprise risk management are providing high-end security andflexibility in a cost-efficient and easy-to-use format to cater to the needs and budgets of the end users.The solutions work in the following ways: ● Apart from proactively scanning the internet for counterfeits, the solution makes use of human intelligence to ensure total data integrity ● The solution helps pharmaceutical and other companies to significantly bring down the percentage of drug duplication by detecting the network and syndicates of high volume counterfeits ● Provides a comprehensive end-to-end brand protection solution that includes investigation and unique enforcement services ● The processes are less expensive and time consuming
  2. 2. Today every enterprise is extremely conscious about its brand image, as it is much more than just aname of a trademark. It is an organization’s identity and has its intrinsic nature and traits that help indeveloping wider recognition with the consumer. Hence any brand violation activity results in both finiteand infinite losses. The standard and generic brand protection solutions merely scan for the obviousbrand abuse and misuse and do not have advanced anti-counterfeiting processes. Innovative anti-counterfeiting solutions apart from recognizing the counterfeit products can also shut down illegaloperations efficiently. Simultaneously, it can also send, cease, desists DCMA letters automatically andoffers an automatic action to shut down. In addition to all these, the legislators too have been a crucialrole in setting up laws and regulations to combat counterfeiting and gray market activities.Read More About: brand management, brand reputation