Key takeaways brands can use from INTA report on anti-counterfeiting
The International Trademark Association (INTA) has released its Anti-counterfeiting Benchmarking Report aimed at helping businesses deal with the menace of counterfeiting globally. The release of the report coincides with the INTA Annual Meeting 2023, which will begin on May 16th in Singapore. The new report provides useful insights into the ever-changing nature of the counterfeiting landscape.
Counterfeiting is one of the most severe forms of trademark infringement that will tarnish your brand image and put a serious dent in your profits. Trademark agents in Dubai can help you if your registered trademark faces the threat of counterfeiting. Now. Let us move on to the INTA Report on Anti-counterfeiting benchmarking:
The Key Objective of the INTA Report
The report is the result of a benchmarking survey conducted by INTA among its global corporate membership. The report is designed for both in-house and outside IP departments and provides you with key insights into brand owners’ anti-counterfeiting strategies and resourcing. The report consists of accessible facts and figures so that brand owners can improve their anti-counterfeiting strategies globally. Trademark advisors in Dubai can provide you with further assistance.
Key Highlights of the INTA Report
The INTA report effectively summarizes key trademark infringement aspects including how brand owners view the scale of counterfeiting, where it is increasing, how to tackle the problem, allocation of resources and budgets, use of external resources, and knowledge gaps in public awareness. The following are the key highlights of the INTA report:
- The top concerns identified are counterfeits, lookalikes/copycats, and grey market/parallel imports.
- Counterfeits are becoming an increasingly significant issue, with counterfeiting-related problems increasing as a result of the COVID-19 pandemic, for more than 60 per cent of companies.
- Respondents identified the economic downturn, the growth of online marketplaces, and direct sales to consumers as among the key reasons for the growing challenge.
- Over 90 per cent of respondents said their anti-counterfeiting program has been somewhat, moderately, or highly effective over the last five years.
- More than half of respondents say their organization outsources key anti-counterfeiting activities.
- The majority of respondents believe they are investing too little of both human resources and money in anti-counterfeiting initiatives—yet only 40 per cent expect anti-counterfeiting investment to increase in the next one to three years.
- About 40 per cent of respondents use authentication technology, with marking technologies being the most common type. Only 2 per cent use blockchain technology.
How you can benefit from the INTA Report?
The Report is aimed at promoting information-sharing and increasing collaboration between brands across industries as well as globally. However, there is no ‘one size fits all’ solution to combatting the menace of counterfeiting. However, brand owners can gain valuable insights from the INTA Report and understand how other organizations perceive and deal with counterfeiting. The report provides a snapshot of how brand owners are adapting to a fast-changing environment. Trademark agents in the UAE hope it provides a useful resource to stimulate conversations and to help develop future solutions.
Hire the Best Trademark Agents in Dubai, UAE
Enforcing your registered trademarks in the UAE is critical for you as the cosmetics industry is highly vulnerable to trademark infringement and counterfeiting. You can avail of trademark watch services in the UAE to identify third parties that benefit from the unauthorised use of your name, logos or taglines. You can also record your trademarks with Dubai Customs to prevent counterfeiters from misusing your products. Jitendra Intellectual Property (JIP) is one of the top trademark agents in the UAE trusted by brand owners in all industries. Availing of our trademark services in the UAE helps you to ensure that your brands are safeguarded from infringers and counterfeiters. JIP is dedicated to providing our clients with exceptional brand services including trademark registration, trademark search, trademark watch, trademark renewal etc.