With the internet bubble the explosion of vast amount of data started taking over various different types of markets and industries. The data related to various products, brands, industries and individuals were being available on the internet, that even surpassed the geographical boundaries and physical obstructions caused in various areas. Thus, with the wide variety of knowledge and awareness intellectual property rights were taken into serious considerations. As trademark and intellectual property rights are considered as valuable assets to various organizations and in some case, they are even treated more than just the tangible assets.
With the passing time where the value to these rights gained more and more attention, its importance was taken seriously among the various nationalities. With the increasing use of technology that has now turned the main and the basic source for various businesses that has drawn some major positive effects on many market across the world. Thus, in this time frame where technology is being the major driving source organizations have to spent a lot of money on time and efforts in protecting their intellectual property rights from getting infringed. Still the growth of counterfeiting can be seen evidently on the online platform or it will better to say that the technological shift has uplifted the counterfeiters market and has provided them with better facilities to maximise their business.
Currently to understand the state of counterfeiting in which the counterfeiters illicitly copy or make duplicate the goods that have a trademark that is indistinguishable from one that is registered. Accordingly, the globalization of trade has given huge opportunities to the illicit counterfeiters to produce the counterfeit goods and sell it on the international market.
Seeing this growth, of counterfeiters on the international market the various types of infringes under the intellectual property rights has grown more than 3 Lakhs in 2016 as per the Elint Analytics. In the intellectual property rights were divided into five broad categories that included - Copyright, Trademark, Design and Mode, Patent & Protected Geographical Indication. Among all these five the highest number of seizures were under Trademark that showed more than 50%.
Though the government across the globe are making endless efforts in protecting the rights of the brand owners but have lacked in providing adequate protection. With the increasing scope of counterfeiting internationally big organizations have to face huge financial loses as the trade of counterfeited goods have been multiplied many folds. Though the problem related to it is not only economic but problem s related to health and death of some those who use counterfeited products, illness, injuries and allergies.
Counterfeiting is standing at the middle of the growth of the economies as well as the brand and is tempering badly the huge market luxury market. As now the counterfeiters have an easy way to multiply their work through newer technologies, cheap tools that are available that help in replicate the original product at way too cheap and easy manner. Now they also have advantage while replicating that will help to copy the trademark which includes, logos, trade description and also create convincing looking packaging.
Internet and technology has given the counterfeiters an extremely easy, well-constructed and easily approachable market, that ready for the counterfeiters to take it over.