With counterfeiters becoming ever bolder, and the range of counterfeit products increasing all the time, brand owners must be vigilant in protecting their intellectual property, says Rahul Chaudhry.
Licensing brands has become increasingly common and provides an excellent avenue to growing a business exponentially. Whatever the business, the brand is the key to its reputation and recognition. It becomes essential to understand that competing businesses in any industry frequently attempt to achieve quick success by using the assets and business strategies established by rivals.
The most prevalent of these risks is intellectual property infringement of branded products. The term infringement refers to counterfeiting and other forms of improper use of another’s intellectual property. Infringement of licensed properties is a multifaceted and persistent problem that brand owners face worldwide, and is damaging to the success of a brand.
Counterfeiting is probably as old as the markets themselves—legend has it that ancient Greek wine was once counterfeited by the Romans.
Counterfeit, prevention, trademarks, registration, TRIPS