Intellectual property (IP) lies at the core of competitiveness, productivity and economic growth – which also makes it a prime target for counterfeiters. The counterfeiting of IP is an industry-wide, decades-long problem that not only harms large corporations, but countless numbers of small and medium-sized companies as well. The illicit trade in counterfeit goods, piracy of IP and related transnational criminal activities erode company value, reputation, revenue and profits while consumers are left vulnerable to health and safety hazards from substandard counterfeit parts and products.
Counterfeit and Piracy Watch List
In December last year, the European Commission published the Counterfeit and Piracy Watch List 2020, naming both online and physical marketplaces that reportedly engage in or facilitate counterfeiting and piracy, overall contributing to substantial Intellectual Property Rights (IPR) infringements. The marketplaces and service providers in the watch list were selected between 1 June and 15 October 2020 and focus on marketplaces located outside the EU comprising of four main sections:
- Online service providers offering or facilitating access to copyright-protected content
- Electronic commerce platforms
- Online pharmacies and service providers facilitating the sale of medicines
- Physical marketplaces
The aim of the watch list is to raise awareness among EU citizens of the risks of purchasing from these globally-available marketplaces. Moreover, it is intended to encourage operators, local enforcement agencies and governments to act against them.
VIP Solutions for IP Problems
SICPA’s range of proven and patented invisible authentication solutions are important tools to help safeguard brands and products from the risks and liabilities of the counterfeit industry. During product and supply chain investigations, they enable robust immediate and indisputable authentication and therefore court admissible evidence, allowing the IP team to establish facts that will allow quick and decisive legal actions in full confidence of IP infringement.
SICPA’s solutions also play a vital role in product recall situations, by allowing product authentication at re-entry points in the supply chain, preventing rogue warranty claims, defending the integrity of products and ultimately protecting brand value and safeguarding consumer well-being, therefore ensuring trust.
By strengthening IP enforcement and implementing secure solutions to authenticate products, companies can help combat IP theft and abuse and enhance their Intellectual Property Protection Strategy.