Counterfeiting cases are rarely contested in court but the law on the legality of parallel imports is ambiguous and hotly contested in India, as Safir Anand reports.
Counterfeit goods and unauthorised imports can become a nightmare across all industries. The counterfeit market is a fast-growing menace, and with the advent of the internet it is becoming difficult to rein in. The fake luxury goods market, for instance, is estimated to be growing 40 to 45% annually.
The growing market for counterfeits is fed by high consumer demand for easily accessible, cheap branded products. From a consumer’s point of view, what exactly is a counterfeit? A counterfeit is an imitation, usually one that is made with the intent of fraudulently passing it off as genuine.
This article was published in TBO’s Newsletter October 2014.