IACC agreement to enhance anti-counterfeiting efforts
On World Intellectual Property (IP) Day (April 26th), the International AntiCounterfeiting Coalition (IACC) and Amazon signed a Memorandum of Understanding (MOU), with the aim of enhancing their collaboration and anti-counterfeiting efforts.
Amazon's Brand Registry, which was overhauled in May 2017, allows companies to enroll their IP Rights i.e. trademarks and verified product images so Amazon can scan for counterfeits. According to Amazon, its team responds to 93% of potential infringement notices within four hours.
Whilst larger luxury brands can choose to not sell on such marketplaces, it isn’t always an option for smaller brands. Marketplaces are where most of their sales are generated, unfortunately it’s also where they can lose revenue due to illegal counterfeits, and it’s not always possible for them to police the huge problem. If they do find infringing products, it’s a very costly and time-consuming process for them to tackle, and their only legal resourse is to try go after the companies listing the counterfeit goods.
Earlier this year, Federal investigators reported that over 42% of products that they purchased from a number of well-known marketplaces were deemed to be counterfeit. Following this report, Sen. Orrin Hatch, who chairs the Senate Finance Committee, announced he would convene a Senate hearing on the issue.
Yellow Brand Protection provide advice on how to prevent your brand from being counterfeited online and how to report infringements on a number of online marketplaces. If you would like any further assistance on how to protect your brand on marketplaces and other online channels, please request a free Brand Protection Status Report today.
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