Dangerous Fakes: The Truth Behind Counterfeit Products and Practical Tips to Mitigate the Problem and Cut It Off at the Source

Dangerous Fakes: The Truth Behind Counterfeit Products and Practical Tips to Mitigate the Problem and Cut It Off at the Source

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Counterfeit products are an enormous problem for businesses all over the world, from consumer goods, to software, to pharmaceuticals, counterfeits have become nearly ubiquitous. Counterfeiters easily (and conservatively) cost brand owners many hundreds of billions of dollars each year. Given the low risk of getting caught, high profit margins and often lackluster and uncoordinated enforcement regimes, fighting counterfeits is an ever-growing challenge for brand owners.

All counterfeits can present risk to consumers, but counterfeit food, beverages, pharmaceuticals and related personal care items which have been improperly formulated or which contain ingredients that are can be particularly harmful. Significant impact ranging from mild inconveniences to consumers, to life-threatening situations can befall consumers, some (perhaps many) who do not know they are purchasing a counterfeit. Moreover, in the specific case of pharmaceuticals, the lack of active ingredients can deprive consumers of the possibility to treat diseases effectively, thus prolonging illnesses that would otherwise be treatable.

This panel will define the problem of dangerous fakes, explain the real risks presented to consumers, share updates on enforcement efforts from US and China and discuss what brand owners can and should do to mitigate problems in the US and cut it off at the source (China/Asia) before the counterfeits even reach the western border.

Materials*

Danger of Fake – Counterfeits

OECD/EUIPO Report: China and Hong Kong Account for 75% of Dangerous Counterfeits

GIPC Event Underscores Scale of Dangerous COVID-Related Fakes During Pandemic

Could COVID-19 Counterfeit Concerns Get Congress to Move Towards Passage of the Counterfeit Goods Seizure Act?

Dangerous Counterfeits Becoming More Difficult to Avoid

* A Note on Materials: We apply for MCLE, which requires substantive writing on the topic covered. The materials provided below, often published by IPWatchdog.com authors and contributors, relate to the topic but are not intended to pigeon-hole guest speakers in any way. They are hopefully informative, and the articles we select have to date always been sufficient to satisfy MCLE authorities.