What components make up a company’s anti counterfeiting strategy
With the increasing number of high-profile counterfeiting episodes, counterfeiting concerns ranks high among consumers, regulators, brand owners as well as enforcement agencies. Generally brand value is one component to an enterprise’s assets, but the truth remains that it is consumer perception about the product that matters the most, and this can get easily tampered through counterfeit activities. Every enterprise understands the importance of having a cohesive anti-counterfeiting strategy that works in tandem to their specific enterprise requirements.
Anti counterfeit solutions are no longer just a single divisions responsibility, it is about understanding that contemporary counterfeiters are well-equipped and skilled therefore the anti-counterfeit solution must also be intelligent, intuitive and span the enterprise. The solution needs to effectively gauge and measure the actual impact of counterfeiting to a product and its brand image plus provide business critical information to the company. Here’s a list of the necessary components of a cohesive anti-counterfeiting strategy that a company must have:
- Trademark protection:-Trademark protection via legal means is the backbone of any anti-counterfeiting effort and it helps if enterprises have Intellectual Property lawyers either on a contractual basis or in-house because their addition can fortify the anti-counterfeiting strategy. Also if the strategy involves local legal entities it can certainly help in confiscating counterfeit products and prosecuting the offenders. Additionally if jurisdiction permissions are viable then enterprises can also go tackle offenders in the civil court; serious legal actions like this often dents the counterfeiting abilities of the offenders.
- Working with trade groups: Trade groups can be a valuable element in your anti-counterfeiting efforts. When your enterprise works with trade groups that share the same common interests as yours you can then efficiently protect your intellectual property especially in vertical markets. This coupled with efforts from the law enforcement agencies can provide your enterprise with diverse, cost effective methods to prosecute counterfeiters.
- The online age has ensured that counterfeiters have moved from street-corners to having a strong online presence to complement their offline counterfeiting activities. Therefore every enterprise must ensure that their anti-counterfeiting solutions include global monitoring of web commerce along with a provision for a back-end database that is capable of organizing the collected information into actionable intelligence.
The above mentioned components can go a long way in protecting a company’s intellectual property. Further it can also ensure that the consumer’s expectation of the products quality and reliability is met efficiently.
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