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Anti-counterfeiting Strategies for Complete Brand Protection

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Irrespective of the industry every business has in one way or another been affected by counterfeits whether operating through physical market or a virtual one.

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Anti-counterfeiting Strategies for Complete Brand Protection

  1. 1. Anti-counterfeiting Strategies for Complete Brand Protection Irrespective of the industry every business has in one way or another been affected by counterfeits whether operating through physical market or a virtual one. Enterprises face an unfair competition that arises from the fact that a market selling counterfeit products also exists. The business environment is challenged with counterfeit product that needs to be handled through efficient risk management methods. Defined by Wikipedia 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 the customers”, counterfeiting leads to heavy losses for the enterprises. In such a scenario, these fraudulent activities results in a loss of market share and brand reputation that has been built over long periods. With reports suggesting that the trade in counterfeit products represents nearly five per cent of world trade, it has been found that these counterfeit products range from breakfast cereals to lifesaving medicines, electronic products, and luxury goods. This secondary market with its widespread impact on products, process and people, tends to derail the globalized business. Enterprises need to take up anti-counterfeiting strategies as part of the risk management framework to protect the brand and revenues. The advancement in technology and the growth of e-commerce though has not only given businesses an opportunity to expand and grow, it has also paved way for the way for the counterfeit market to thrive. The Counterfeiting Intelligence Bureau (CIB) of the International Chamber of Commerce (ICC) has recorded that counterfeits make up nearly 5 to 7% of the World Trade and its annual sales amounts to nearly $300-600 million. Anti-counterfeiting solutions from the leaders in the industry provide enterprise protection for the fraudulent products that are affecting the brand sales. To counter the threat from counterfeiters, service providers offer anti- counterfeiting solutions that are intelligent, intuitive and cover the entire global enterprise to check for counterfeits. The
  2. 2. anti-counterfeiting strategies deployed include ● Providing a complete online fraud protection solution that detect online transactions ● Trademark protection ● The presence of Intellectual Property lawyers to fortify the anti-counterfeiting strategy. ● Working in trade groups that share common interests help enterprises efficiently protect their intellectual property in vertical markets. ● Global monitoring of web commerce with a back-end database All this together facilitates enterprises to collect information and convert into actionable intelligence that will help protect the brand both in offline and online mode of business transactions. Read More About: enterprise risk management training, brand reputation management, gray market goods, anti-counterfeiting strategies, minimum advertised price agreement

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