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Wednesday, December 16, 2020
In the last quarter-century, e-commerce has revolutionized businesses large and small, creating opportunities to reach a far broader customer base than ever before. Unfortunately, this unlimited online marketplace also has created new opportunities for counterfeit and pirated goods.
Bogus merchandise that once had to be sold at flea markets or from the trunks of cars now can be found for sale on websites visited by hundreds of millions of potential customers. Counterfeit operations that once were confined to certain areas now can market their illegal goods across the globe. So it isn’t surprising that the Organisation for Economic Cooperation and Development (OECD) noted that international counterfeiting increased 154 percent between 2005 and 2016. The OECD estimates that the annual global market for counterfeit goods now exceeds a half-trillion dollars, and makes up more than three percent of all global trade.