Friday 6th December 2019 | Novotel Mumbai Juhu Beach, Mumbai
The growth in global trade and technology has positively affected many markets across the world but along with that, it has some major adverse effects as well. Business organizations spend a lot of money, time and resources on protecting their brand and trademarks. But even after all the measures, the counterfeit market is booming rapidly.
Product counterfeiting is a growing global risk with multidimensional, detrimental effects on businesses, consumers, economies, and society. They also pose significant risks to public health and safety, the economy, and even national security. Many factors facilitate both the demand for and supply of product counterfeits, and there are many ways brand owners, law enforcement officials, legislators, and others can respond to and prevent the crime.
"The amount of total counterfeiting globally has reached to 1.2 Trillion USD in 2017 and is bound to reach 1.82 Trillion USD by the year 2020 which includes counterfeiting of all equipment/products from defence equipment's to counterfeiting of watches."
The Global Brand Counterfeiting Report, 2018 estimates that the losses suffered due to online counterfeiting globally has amounted to 323 Billion USD in the year 2017.
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