Intellectual Property Rights have become ubiquitous in today’s era and have also emerged as the key issue of global innovation policy. Trade related aspects of Intellectual Property Rights (TRIPS) agreement, was one of the first attempt to establish a global harmonization of the intellectual property protection. By providing the rights to the intellectual property owners, government has assured that others are excluded from using the protected property.
Thus, government has given a legal monopoly to the owner of the intellectual property to exploit his work and capture economic benefit out of it. The unauthorized use of intellectual property arises many infringements, and trademark counterfeiting is one of them. The increased prevalence of intellectual property rights across the globe has made it a herculean task to overcome the circumstances that leads to illicit activities of counterfeit trade.
Singapore- -Counterfeiting and Trademark Infringement Report, 2018 has addressed the menace of counterfeiting by doing an in-depth analysis of various factors related to counterfeiting. The report has explained various legal provisions that protect and safeguard trademark rights of the brand owners.
The market for counterfeit goods can appear promising by appealing to the many who wish to buy branded goods at affordable prices. However, they undeniably harm the original proprietors of the copied trademarks in some way eventually, and, as such, rights to registered trademarks are enforced strictly in Singapore.
Custom and border officers have various powers that are prescribed under the law. The provisions of the law are explained in detail in the report. The custom officers in Singapore have the authority to detain, examine and confiscate goods which are reasonably suspected of being counterfeit goods.
A counterfeit trademark passes through many countries to reach to it final destination. And these activities are conducted without any knowledge to the trademark owner. This sort of unawareness has been created due to the furtive and global nature of the illicit trade, and also the freedom with which such trade activities are conducted in the global economy.
The report has come up with various recommendations that can be used by the brand owners to protect their trademark. The recommendations are based on the legal, social, economical and most importantly technological aspects of counterfeiting.
The report has done an insightful analysis of the digital environment that is proliferating the sales of counterfeiting products.
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