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

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