Defend Your IP from Counterfeits Did you know that annual counterfeit and gray market sales amount to a whopping $300-600 billion? So why should someone else gain from your unique intellectual property aspects? It is time to value your IP and protect it to save your enterprise and its unique selling propositions. Theft of IP can pose a grave threat to any enterprise because it can tamper with your brand image, not to mention cause revenue loss. A patent or a trademark these days is not enough to protect your business, especially in other countries. Therefore when you plan to take your products to other countries, you need to have suitable IP protection to ensure your IP is completely safe. Getting the Appropriate Solution Counterfeiting is easy in some countries, where all that is needed are some product pictures and logos from your website to package the fake products just like the original. Although there are plenty of anti-fraud solutions out there, you need to employ the best possible IP protection software to ensure your business is not a target. Here is a checklist that can help you seek out the best solution: 1. The aim is have a constant vigil on the global market and monitor counterfeit activity constantly. That’s precisely what your solution should be able to do. It should provide visibility into the counterfeit market in such a way that all suspects are identified immediately. 2. Mere identification of the counterfeiter is not enough; the solution should analyze the type of counterfeiting committed and also prioritize the data that it receives. 3. The solution should offer 24/7 continuous monitoring of this market because sophisticated counterfeiters are prone to going offline after a counterfeit attempt. 4. The solution should monitor all kind of sites, be it auction sites, B2B or B2C sites, bulletin boards, etc. 5. The solution needs to be user friendly and therefore needs to be intuitive. 6. Your IP protection solution needs to be able to provide you with enough evidence of the fraud or tampering committed against your IP. This can assist you in your legal cases if you plan to take the counterfeiters to court. 7. The solution should be able to take a snapshot of the website indulging in counterfeits of your products. Protect your IP Don’t let counterfeiting interfere with your rightful revenue margins. By investing in the right software you are sure to increase not just your revenue but also distributor loyalty and also safeguard your brand reputation. Maximize Your ROI with the Best Brand Protection Eleven percent of the world’s clothing and footwear are fakes! Luxury product manufacturers suffer the most, with counterfeiters targeting their goods by copying their packaging, logos and sometimes even targeting their distributor channels. Why should your brand suffer because of such illegal activity? Why should you let someone else walk away with your hard earned revenue and, moreover, lose customers’ trust? The Anti-Counterfeiting Trade Agreement has recently been backed by President Obama. In a speech in March, 2010, he illustrated that it is a main focus area in the government’s policy against counterfeit goods, saying, “our single greatest asset is the innovation and the ingenuity and creativity of the American people…But it’s only a competitive advantage if our companies know that someone else can’t just steal that idea and duplicate it with cheaper inputs and labor.” So even as government agencies and some trade associations battle it out against global counterfeiting, the onus is on you to safeguard your brand. Your anti-counterfeiting and brand protection solutions need to be tailor made to suit your business needs. Protect Your Product from Brand Counterfeiting So how does one go about looking for a solution or software that can provide adequate brand protection and also ensure action against the perpetrators of counterfeits? For starters, it is important to employ a brand protection solution that will provide you with: Easy deployment facility, owing to its SaaS offerings 24/7 visibility into gray market activity Sales, marketing and channel management with greater effectiveness Reports on any kind of counterfeiting that could affect your brand Identification reports of the most counterfeited products to enable you to retool your design process Enhance Your Brand Protection Strategy To further enhance the actual effectiveness of brand protection solutions, you need to ensure that you have a: Multi-faceted brand protection strategy in place Brand protection plan that follows a holistic strategy to ensure complete protection to your brand from both a marketing and a legal standpoint Protection strategy involving continuous internal monitoring and analysis of your supply and distributor chain Way of constantly measuring the effectiveness of your anti brand counterfeiting efforts Most importantly, the brand protection solution you choose should essentially be cost effective. Only when your brand gets the protection it deserves will you be able to actually enjoy the fruits of your brand, i.e. maximized ROI for your business.
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