WeGen

Among the #counterfeit #goods which are sold, games, televisions, beauty products, shoes, handbags, clothing, and #pharmaceuticals are prominent targets. Counterfeiting and #piracy are similar crimes with similar effects. The product creator does not get paid for their #hardwork

Europol and partner organizations estimate in 2013, #counterfeit accounted for 2.5% of all global trade, a number which has only risen over the last 5 years. Some estimates place counterfeit trade at figures in excess of 4–5% globally in 2017. - Source: bit.ly/2BVYZ6q

Among the impacts of #counterfeiting on the world’s #economy are reduced #research spending, #layoffs from jobs due to reduced revenue, lower #QualityOfLife , and too many more to count. #Businesses across every #vertical are affected by the ever-growing counterfeit #epidemic

Everyday items are falling victim to counterfeit schemes. Brands like @Colgate have been blamed for bringing harm to #RealPeople despite having nothing to do with counterfeit products at fault.

Money is a central factor in the #counterfeit market, but #money is not the core of the issue. Greed, inflation, desire, and many more factors also form the foundation of one of the world’s largest criminal enterprises.

#Piracy and #counterfeiting are similar issues which build on each other in terms of brand equity degradation and #economic impact. #Physical merchandise can be much easier to protect, but each present their own unique challenges. - Source: @the_oecd

#Brands all over the world are falling prey to #counterfeit #goods due to a number of factors. #Economic decline and instability, lax legislature, free-trade zones, and more all play into the global counterfeiting #epidemic. - @nike @hbo @vice

#Counterfeiting is not just a #luxury brand problem. Basic products like toothpaste and pharmaceuticals fall victim to the practice every day. Some publications estimate counterfeit-branded products account for 5% of product sales. Source reuters.com/article/us-pha…

Solutions to the #counterfeiting epidemic aren’t effective enough. Society is still pinned down by #fake products (@amazon @AlibabaGroup @gmarketstory). @WeGen_official is presenting a solution which may be more effective than #RFID #NFC and #SecurityLabels alone.

#Counterfeiting is a trillion dollar problem in the #global #economy which affects everyone. Not only are #brands damaged by subpar products, but consumers lose faith in the products they buy, while others pay more for the genuine products.