Every year, millions of fake merchandise, which include unauthorized replicas of forged branded footwear, technology, and make-up, are purchased and sold across the globe. The major reasons for the countless fake products in the international market are easy profits and enormous enthusiasm for such brands in people, while the solutions are strict laws and more regulations.
To begin with, the revenue of black market organizations increases effortlessly by selling forged products to customers. In other words, such companies do not consider the overhead for research and development, as well as marketing for their counterfeit goods which saves millions of dollars for them and boost their profits. For example, a news article released in 2017 stated that over 50 million dollars worth of fake Nike shoes were sold in the Asian market in less than a year. Furthermore, many unauthorized companies are reverse-engineering the original products because of the increasing obsession of purchasing branded products in people. As a result, selling forged products become exceedingly uncomplicated for them, which eventually gaining their business by billions of dollars annually.
There are two effective solutions to decrease the number of counterfeit products from the global market. One way to tackle this issue is that authorities must establish a hefty penalty and strict punishment for the manufacturers of these products. Moreover, thousands of dollars of fine must be imposed on such unauthorized companies and there ought to be imprisonment of ten years in order to deter individuals from attempting forgery in the future. For instance, a recent report published in the Asian Business sector claimed that an increase of 40% of counterfeit products in stores is due to the negligible fines and lack of regulations. Another possible solution is that the government needs to allocate more resources to police departments so that not only they can seize the black market companies, but also keeps a regular check of illegal manufacturers in the local areas. Consequently, this will put a sense of fear in black market dealers and reduce the illegal business of forged products.
To conclude, although counterfeit products are sold at the global level because of easy profits and to give an illusion of originality to people, it must be controlled by establishing stringent laws, imposing an enormous penalty, or long imprisonment to forgers.
Every year, millions of fake merchandise, which include unauthorized replicas of
forged
branded footwear, technology, and
make
-up, are
purchased
and sold across the globe. The major reasons for the countless fake
products
in the international
market
are easy profits and enormous enthusiasm for such brands in
people
, while the solutions are strict laws and more regulations.
To
begin
with, the revenue of black
market
organizations increases
effortlessly
by selling
forged
products
to customers.
In other words
, such
companies
do not consider the overhead for research and development,
as well
as marketing for their
counterfeit
goods
which saves millions of
dollars
for them and boost their profits.
For example
, a news article released in 2017 stated that over 50 million
dollars
worth of fake Nike shoes
were sold
in the Asian
market
in less than a year.
Furthermore
,
many
unauthorized
companies
are reverse-engineering the original
products
because
of the increasing obsession of purchasing branded
products
in
people
.
As a result
, selling
forged
products
become
exceedingly
uncomplicated for them, which
eventually
gaining their business by billions of
dollars
annually
.
There are two effective solutions to decrease the number of
counterfeit
products
from the global
market
. One way to tackle this issue is that authorities
must
establish a hefty penalty and strict punishment for the manufacturers of these
products
.
Moreover
, thousands of
dollars
of fine
must
be imposed
on such unauthorized
companies
and there ought to be imprisonment of ten years in order to deter individuals from attempting forgery in the future.
For instance
, a recent report published in the Asian Business sector claimed that an increase of 40% of
counterfeit
products
in stores is due to the negligible fines and lack of regulations. Another possible solution is that the
government
needs to allocate more resources to police departments
so
that not
only
they can seize the black
market
companies
,
but
also
keeps
a regular
check
of illegal manufacturers in the local areas.
Consequently
, this will put a sense of fear in black
market
dealers and
reduce
the illegal business of
forged
products.
To conclude
, although
counterfeit
products
are sold
at the global level
because
of easy profits and to give an illusion of originality to
people
, it
must
be controlled
by establishing stringent laws, imposing an enormous penalty, or long imprisonment to forgers.