Does counterfeiting cause any damage?
Although some believe counterfeiting is a victimless crime, it has many far-reaching consequences. Depending upon the nature of the product being counterfeited, there can be serious health and safety concerns for consumers, as, for example, in the case of counterfeit baby formula, children’s toys, medications, car parts and electronic goods. Typically, counterfeit goods are not made with materials of the same quality or under the same high standards of manufacturing or quality control as the originals.
In addition, counterfeiting damages brand owners’ reputation and lowers consumer confidence in the affected brands. Counterfeiting also damages brand owners and retailers selling legitimate products by causing missed sales opportunities and actual job losses by manufacturers and retailers. Consumer confidence and the value of branding may suffer when purchasers