Counterfeiting Meaning- India
To counterfeit is to sell or market a non-genuine product as a genuine. Generally, such products are sold under the name of a famous manufacturer and an unwary consumer is misled to believe that the product originates from the same manufacturer.
Counterfeiting definition in India
Counterfeiting refers to the manufacture, sale, export, import, distribution of products that are fake i.e. products which unauthorizedly use the trademark of right holder. Thus, counterfeit in general refers to knock-offs which are copies of the genuine goods.
Counterfeiting Issues in India
The disease of counterfeiting in India has extended to fields such as drugs and cosmetics, film and music industry, electronic and computer software, books and so on.
Intellectual Property Laws and Counterfeiting in India
Counterfeiting today, thus, constitutes a major threat to the Intellectual Property Rights and has become a concern for individuals, companies as well as the State due to losses in revenue by way of taxes on goods. The various statutes governing Intellectual Property Rights recognize such activity as an offence and provide for stringent punishments.
Steps taken to curb Counterfeiting Globally
Counterfeit problems are becoming borderless. They are not something one country can solve and prevent on its own. To eradicate such illegal acts, the following points are critical in addition to international cooperation:
- Global improvement of the judicial system and its enforcement regarding intellectual property (such as by treaty)
- More desirable conditions to bring in foreign economy and technology by easing licensing regulations and improving investment opportunities
- Promotion of education and awareness activities regarding enforcement of IP systems
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