The immense effort that goes into building a brand can be offset by just one incident with counterfeit products. Keeping your brand safe from the consequences of using imitation goods involves streamlining your supply chain management and adopting strong brand protection practices.
Let’s dig deeper into how you can safeguard your brand from knock-offs and make it bulletproof against any copyright tricks up someone’s sleeve.
What Are Counterfeit Products?
Counterfeit products are goods that criminals develop by using another company’s intellectual property without the owner’s consent. Culprits take advantage of the brand’s reputation to sell imitations to the brand’s audience.
While counterfeit products can look identical to real products and feature the original brand’s logos, colors, and design, their quality is usually lower.
Risks and Consequences
Companies that don’t exercise robust brand protection often have their ideas stolen. Criminals take advantage of security loopholes to copy brand assets and use them to their advantage. Any business can become a target for such criminals and lose brand reputation, consumer trust, and revenue.
In the United States, counterfeiting is a criminal offense that can lead to substantial fines and imprisonment.
When you buy and use counterfeit products unwittingly, you aren’t likely to face punishment for counterfeiting. However, if you use counterfeit goods when developing your products, your customers and clients may suffer unfortunate consequences and initiate legal action.
To protect your brand, you don’t just have to keep your trademark safe from criminals. You also have to make sure that you don’t unknowingly participate in hurting another brand and suffering the consequences...Read More!
