Years Experience
Do you know about counterfeiting? Let’s find out how counterfeiting affects the whole society. Counterfeiting is a state crime, which includes the construction and dispatching of goods under someone else’s name, without the creator’s consent. For example, if a third party produces and sells the author’s product without mentioning the source or author. It is known as counterfeiting or intellectual property (IP) theft.
Moreover, counterfeiters use low-quality material in the construction of these goods. They try to sell low-quality material by using the name of popular brands so that they can attract more customers. Unfortunately, it has become a great business now.
The anti-counterfeiting market suggested that this business has reached $128.6 Billion by 2019. In 2013, the Department of Homeland Security has taken over counterfeit goods of $1.7 Billion at US borders. Illegal trade of goods has been reached up to the US $917 billion years. Whereas digital piracy in movies and software has been extended up to US$213 billion in 2015. This growth is increasing rapidly because of consumer demands.
Almost every product or goods can be counterfeited. These products include accessories, music, songs, software, medications, cigarette, automobiles, cars, parts of the airplane, consumer goods, toys, and electronics.
Counterfeiting has a harmful effect on society and business. It has enormously decreased economic development. There are the following ways that how counterfeiting is damaging our society.
People knowingly buy counterfeit products because these products are affordable as compared to the original ones. It implies that companies face competitors that steal their intellectual property without the owner’s consent. These competitors or third parties illegally use the company’s product without paying them taxes or following other rules.
These competitors replace the original creators or companies, which in turn discourages them. Sometimes, the creators start using the same process, and hence, economic development will suffer greatly. The ICC Business Action to Stop Counterfeiting and Piracy (BASCAP) suggests that counterfeiting has replaced authentic economic activity of US $470 billion to US $597 billion in 2013.
People knowingly buy counterfeit products because these products are affordable as compared to the original ones. It implies that companies face competitors that steal their intellectual property without the owner’s consent. These competitors or third parties illegally use the company’s product without paying them taxes or following other rules.
These competitors replace the original creators or companies, which in turn discourages them. Sometimes, the creators start using the same process, and hence, economic development will suffer greatly. The ICC Business Action to Stop Counterfeiting and Piracy (BASCAP) suggests that counterfeiting has replaced authentic economic activity of US $470 billion to US $597 billion in 2013.
Nowadays, companies greatly focus on the brand’s reputation and the integrity of products. So, there are the following ways to protect your products from counterfeiting.
People knowingly buy counterfeit products because these products are affordable as compared to the original ones. It implies that companies face competitors that steal their intellectual property without the owner’s consent. These competitors or third parties illegally use the company’s product without paying them taxes or following other rules.
These competitors replace the original creators or companies, which in turn discourages them. Sometimes, the creators start using the same process, and hence, economic development will suffer greatly. The ICC Business Action to Stop Counterfeiting and Piracy (BASCAP) suggests that counterfeiting has replaced authentic economic activity of US $470 billion to US $597 billion in 2013.
People knowingly buy counterfeit products because these products are affordable as compared to the original ones. It implies that companies face competitors that steal their intellectual property without the owner’s consent. These competitors or third parties illegally use the company’s product without paying them taxes or following other rules.
These competitors replace the original creators or companies, which in turn discourages them. Sometimes, the creators start using the same process, and hence, economic development will suffer greatly. The ICC Business Action to Stop Counterfeiting and Piracy (BASCAP) suggests that counterfeiting has replaced authentic economic activity of US $470 billion to US $597 billion in 2013.
