Counterfeiting costs companies millions every year
April 2, 2009
Brand Names, Intellectual Property News, Patents, Trade Marks ™ ®
Companies most affected by counterfeiting include pharmaceutical, toy, and music companies around the world. The companies pay a lot of money to register their trademarks, patent their products, and registering designs. Branding takes years and cost a lot of money. Counterfeiting is a form of stealing as the original product design or invention is copied and sold in a deceitful manner. The rightful owner of a patented product thus doesn’t benefit economically and as such counterfeiting hinders healthy economic growth. Since the counterfeit products are normally sold at exceptionally low prices, unfair competition occurs. The company that invests money into branding and developing a market for the original product, sells less, workers lose their jobs and economic slow-down occurs. If you suspect counterfeiting of your products and want to take legal action we recommend that you contact our office at the number or email on our contact page today.
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