TOC PROJECT
- 1. THE IMPACT OF COUNTERFEITING IN INTERNATIONAL MARKET PRESENTED BY: SUDHANSHU BISEN (17147)
- 2. WHAT IS COUNTERFEITING? To counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original,for use in illegal transactions,or otherwise to deceiveindividuals into believing that the fake is of equal or greater value than the real thing. Counterfeit products are often produced with the intent to take advantage of the superior valueof the imitated product.
- 3. Key impacts of counterfeiting Stealing sales by undercutting prices Damaging authentic brands’ reputation Leaving companies to deal with the fallout of counterfeits Harming the long-term trust built with business partners Forcing brands to spend time and money fighting fakes
- 4. Civil, administrative and criminal offence Civil action As intellectual property rights have become more important for companies and receivedmore attention from governments, countries have responded to domestic and international pressures and have strengthened legal protection in favor of right holders. The most common action against counterfeiters is civil litigation. Criminal offence During the last two decades, many countries have taken steps towards introducing legislation that makes product counterfeiting a criminal offence. The liability can either be based on general matters of criminal law such as an attempt to defraud, or result from provisions in trademark legislation.
- 5. Administrative action Administrative interventionis often necessary to prevent the distribution of counterfeit goods. This is particularly important in the case of international trade in counterfeits where the customs authorities play an important role. Trademark owners face several problems in trying to initiate administrative interventionin some countries.They are often required to provide very specific information about the suspect consignment, which may be difficult to obtain and there are often high costs involvedin applying for suspension
- 6. Some factors behind the rapid increase in counterfeiting Advances in technology Increased international trade Emerging markets Emerging products
- 7. Conclusion The impact of counterfeit goods on an organization run deeply, and can cause long-lasting damage. Brands will see a sales hit once the problem becomes widespread, since counterfeiters are able to undercut them on price. Their reputation is also under threat, since consumers will equate their brand with the possibility of buying a counterfeit.