Counterfeiting is one of the largest and most profitable businesses in the world and therefore, is one of the most crucial areas for manufacturers to rigorously monitor. Corporations invest millions to protect against counterfeiting which, gone unprotected, can negatively impact revenue and ultimately, jeopardize a brand. As the underground trade continues to evolve, so too does the need for brand protection. Today, companies must rely on trusted experts to develop and maintain the best in brand protection technologies to ensure product authenticity for both consumers and corporations.
On July 11, Apple released the new iPhone 3G, and within three days sold over one million units, according to company officials. Yet days before the phone hit store shelves, hundreds of iPhone 3G counterfeits were available overseas for $150 or less, which is less than half of Apple's manufacturer suggested retail price. In fact, The Irish Times reported on July 11 that signs in Bangkok, Thailand's MBK Centre advertised hacked iPhones reading, "Good price, we unlock very fast."
According to Yottamark, a leader in security coding, one of every 10 technology products sold is counterfeit, leading to an estimated direct loss over $100 billion a year. What's more, over a two-week period in 2007, customs officials at U.S. borders seized more than 360,000 fake computer devices. From high-tech cell phones to toothbrushes, counterfeiting affects manufacturers, brands, employees and customers everyday, often unknowingly.
Corporations have been fighting the battle of counterfeiting for more than a decade. Most realize it is a full-time job and have a dedicated team to monitor and protect their most precious asset -- their brand. Additionally, many turn to trusted partners that specialize in protecting brands to help deter counterfeiters by utilizing brand protection solutions. Brand protection is the process of protecting the products, services, reputation, and ultimately, the brand by utilizing unique security coding technologies.
Developing Brand Protection Solutions
Brand Protection Solutions combat counterfeiting. Companies like Brady Corporation, an international manufacturer and marketer of solutions that identify and protect premises, products and people, have dedicated teams that research and develop anti-counterfeiting technologies to protect its customer's products. There are three primary technologies used to ensure unsurpassed product authenticity and supply chain control for manufacturers worldwide: overt, covert and semi-covert.
Overt features allow both manufacturers and consumers to clearly see a mark of authenticity. Ranging from holograms and color shifting ink or films to the next generation of overt technology, Unison Micro-Optic Film, consumers and manufacturers are able to locate a mark of authentication on the product, reinforcing the level of trust consumers have come to expect from the respective brand.
Covert features need to be authenticated with a unique tool or specific knowledge of what to look for, and include hidden bar codes and images, proprietary invisible security taggants (crystals), as well as lab detectable forensic coding to help brand owners clearly identify the authenticity of products. Using multiple covert solutions enables brand owners to closely control the supply chain by granting authenticity access at select points to selected participants in the chain.
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