Industries
Commercial, pharmaceutical, biomedical, and aerospace industries, to name a few, experience product infiltration with unknown, non-genuine, imitation, after-market knock-offs. These counterfeits and knock-offs are then either knowingly or unknowingly sold to end users and consumers.
PharmaceuticalsCounterfeited pharmaceuticals represent an estimated 30%, the greatest portion, of all counterfeited goods. Counterfeit pharmaceuticals, be it prescription or over-the-counter medications pose a risk to consumers’ health and well-being. Inferior ingredients, ingredients in the incorrect proportions, or substitute ingredients can cause harm to consumers who consume counterfeit pharmaceuticals with effects ranging from general discomfort, to serious illness, and in worst case death. |
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Aerospace/Automobile PartsCounterfeit components bearing trusted brand names have become ubiquitous in the OEM and replacement parts industry. Composed of inferior materials and non‑conforming to specifications and safety regulations, these components can fail earlier than expected and pose a safety risk. |
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Packaged Goods/Food ItemsUse of inferior ingredients or substitute materials can cause harm to consumers who consume counterfeit packaged goods/food items. The effects range from general discomfort, to serious illness, and in the worst case death. |
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Designer ProductsCounterfeit designer or brand name products can have a negative impact on society as a whole. Brand name owners need to carry additional expenses of protecting their brand names and reputation. The additional costs need to be recovered and are added to drive up the selling prices of genuine goods to consumers. |
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Product DistributionSupply-Chain management is one key area where the introduction of counterfeit goods can be minimized. Control and tracking of items from point of manufacture through the distribution channel(s) to the consumer helps to ensure that genuine goods are not being usurped by counterfeit goods. |
Other Industries
In like fashion to the industries noted above, all industries face the challenge of having to deal with counterfeit goods.
Additionally, verification of products/goods as being genuine can assure the consumer that what is being purchased has not been tampered with nor replaced by a counterfeit.