Counterfeiting - The new economic phenomenon

Abstract: The need for a corporate plan against infringing counterfeit products on your trademark is essential in today’s business climate. This research aims towards filling the current gap of existing literature from a business perspective. Results indicated that businesses need to take a pro-active stand against counterfeits to succeed. If corporations take a passive stand, counterfeits will affect the brand value, sales volume or market share, which ultimately could render in bankruptcy. Thus, if businesses do not protect themselves, this process will undermine economic growth, and also affect the innovation process. These results might be useful to organizations that are in need of increased knowledge of practical methods to protect their business against counterfeits and piracy.