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ARTICLE · 02 JANUARY 2024

Cracking Down On Counterfeits: How To Combat A $1.8 Trillion Dollar Industry

The counterfeit trade has drastically changed over the last three decades. The traditional image of local markets with individuals selling pirate DVD's has progressed...

United KingdomIntellectual Property

The Topline

"The counterfeit trade has drastically changed over the last three decades. The traditional image of local markets with individuals selling pirate DVD's has progressed to a global $1.8 trillion industry. The rise of E-commerce has changed the counterfeit landscape and has introduced challenges in combating counterfeit traders."

– Alan Harper, Head of Intellectual Property, Trade Marks & Designs

Why do consumers buy counterfeits?

Counterfeits are commonly cheaper than their genuine counterparts. On average, counterfeit goods offer around a 15% discount, which is attractive to many customers.

However, these savings come at a cost as these counterfeit products are often of a far lesser quality, and in some circumstances, are dangerous.

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