Anti counterfeiting solutions for today’s enterprises

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The demand and popularity of the fake products in the market have made counterfeiting as one of the fastest-growing economic crimes prevalent today across all industry verticals.

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Anti counterfeiting solutions for today’s enterprises

  1. 1. Anti-Counterfeiting Solutions for Today’s EnterprisesToday’s techno savvy world has provided enterprises with a number of opportunities to spreadglobally. The growth of e-commerce has further paved way for the enterprises to gain a strong webfooting. However, these innovations have also paved way for the cyber criminals and counterfeitersto spread their presence globally making the counterfeit products popular.The demand and popularity of the fake products in the market have made counterfeiting as one ofthe fastest-growing economic crimes prevalent today across all industry verticals. Wikipedia definescounterfeiting as “ the manufacturing and selling of illegal imitation of products, brands, documents,software, works of art, trademarks, patents and even currencies with an intention of deceiving thecustomers”. The counterfeited goods or knock-offs have a widespread market base. TheCounterfeiting Intelligence Bureau (CIB) of the International Chamber of Commerce (ICC) hasrecorded that on a global scale the counterfeit goods make up 5 to 7% of World Trade, amounting toan estimated $700 billion a year. Enterprises thus need to invest in robust anti-counterfeitingsolutions.The spread of the Internet and e-commerce has facilitated the selling of a large number ofcounterfeit products through various online shopping sites. Counterfeit goods have thus becomewidespread making it difficult to monitor, affecting the enterprises bottom line. The increasingnumber of high-profile counterfeiting episodes, not only affects the consumers but also has a deepimpact on the brands. Enterprises thus need to have a cohesive anti-counterfeiting strategy thatworks in tandem with the enterprise requirements.With the globalized environment and the counterfeiters being well-equipped and skilled, anticounterfeit solutions from leaders in the industry are no longer just a single division responsibilitiesbut are intelligent, intuitive ones that span the entire enterprise. The solution effectively gauges and
  2. 2. measures the actual impact of counterfeiting on a product and its brand reputation. Theanti-counterfeiting strategy includes: ● Trademark protection the backbone of anti-counterfeiting efforts. The presence of Intellectual Property lawyers either on a contractual basis or in-house fortifies the anti-counterfeiting strategy. ● Trade groups are valuable elements of anti-counterfeiting efforts. By working with trade groups that share the same common interests, enterprises can efficiently protect their intellectual property especially in vertical markets. Further, this facilitates enterprises with diverse and cost effective methods to prosecute counterfeiters. ● Global monitoring of web commerce with a back-end database which facilitates organizing the collected information into actionable intelligence.All these components go a long way in brand management and brand reputation while ensuring thatthe quality and reliability standards meet the consumers expectation levels. The anti-counterfeitingsolutions thus help enterprises to withstand competition as well as receive high-returns in revenue.Read More About: Enterprise Risk Management, Gray Market

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