Counterfeiting is not restricted to any one jurisdiction. It is a serious issue in the global economy where infringing goods are mass produced in one nation and imported to other nations. Imported counterfeit and pirated products substantially affect the economic positions of businesses.
In some cases, they may cause the withdrawal of a famous international brand from a particular national market, as the brand may be undermined to such an extent that it cannot exploit its products economically in a particular market. The government and end consumers are also negatively affected by imported counterfeit goods, as such products generally remain outside tax ambits and cause confusion in consumers' minds. The expected quality of such products generally suffers as well.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
