In today’s business world, counterfeits are mingled among legitimate e-commerce traffic and many products are nearly identical in price and appearance to the genuine. Unauthorized use of your trademarks to sell products that are counterfeit provides low risk and high profit margins for the counterfeit competitor, and that is what a counterfeiter of your product is, a competitor! The cost of counterfeiting comes directly out of the pockets of your organization. The International Chamber of Commerce estimates that multinational brand owners lose approximately 10% of their top-line revenue to counterfeiters.
More than half of all counterfeit sales occur online. Online-based infringers design sophisticated websites, populate e-commerce platforms, or use social media to offer products that appear genuine, robbing your organization of sales, advertising, perceived brand value, and reputation. Foucart & Associates review of your online IP challenges can ensure your interactions with online marketplace entities are designed to maximize detection and mitigation of brand-infringing activity in the ever-expanding third-party marketplace environments.
As the old saying goes, “An ounce of prevention is worth a pound of cure”. Nowhere is this more fitting than with some of the other crime problems that impact many organizations engaged in defending their IP. Foucart & Associates can review your safeguards supply chains, preparations of procurement staff, or your organization’s prevention/response plans to other cyber-enabled crime such as Business E-Mail Compromise.
Costs defending IP infringement can minimized through effective identification of other crime problems often disclosed with product counterfeiting. Foucart & Associates review of your procedures can facilitate your accurate response to issues such as identity theft, e-commerce account takeovers, card-not-present fraud, and non-delivery fraud schemes. These issues can impact your organization directly or through the reputation of your brand.