Recession to boost sales of fake goods
Article Date: Apr 14 2009The vast majority of businesses believe that counterfeiting will increase in the recession, according to a survey of 216 companies.
Some 97 per cent of respondents believe their brands are at greater risk from imitators because of the downturn, while 80 per cent claim the danger is ‘much greater’ than in previous recessions due to the growth of the internet.
Pam Withers, a partner at intellectual property (IP) firm Marks & Clerk which conducted the research, says the internet has helped increase sales of fake goods, with search engines playing an important role in directing customers towards counterfeit products.
Withers adds, ‘Businesses need to take firmer action to protect their brands, while [online] service providers need to recognise their responsibilities and engage with the problem so they are not a vehicle for infringement.’
More than three-quarters (76 per cent) of respondents to the survey say the law has failed to keep up with new threats to IP posed by the growth of the internet.
