Counterfeiting has been around for centuries, but with the increasing popularity and access to online shops and e-commerce platforms, a new level of counterfeiting and piracy is steadily on the rise. Online thieves, counterfeiters, and rogue factories, are not just creating copies of products, they are stealing patents, trademarks and ideas.
\nThe impact of counterfeiters is climbing higher than ever since many consumers find it acceptable to opt for cheaper alternatives that \u201clook exactly like the original.\u201d Counterfeit products pose a threat to public safety and health, while destroying businesses through tarnished consumer trust, decreased brand value and lost profits. Additionally, high-traffic online marketplaces provide counterfeiters a platform to sell their counterfeit products anywhere in the world making the problem more widespread and difficult to police.<\/p>\n
For growing companies, counterfeiting is one of the most severe problems a business can face. It inhibits development and damages innovation that is crucial to a business\u2019s welfare and growth. It dulls reasons to invest or innovate, and thousands of hours and \u00a0intellectual capital are wasted and violated. The only solutions that exist today are filing lawsuits which result in high legal fees, and waiting years for due process.<\/p>\n