Memorandum of Understanding to Combat Counterfeiting Online
The Memorandum of Understanding, or the MoU, is an anti-counterfeiting measurement taken by the European Commission in order to combat the online trade of counterfeit goods. It is a voluntary agreement that has been signed by several industry leading companies, all looking to protect their brands from counterfeiters and fraudsters.
The MoU promotes cooperation between different stakeholders and seeks to promote an open dialogue about current issues which can hopefully lead to practical solutions to shared problems. Reports on the functioning of the MoU have been positive, demonstrating that the MoU provides an excellent forum for discussion and collaboration, which also increases trust between companies, online platforms, and associations who have signed the agreement.
While the MoU was concluded as early as 2011, it continues to gain signatures as more and more companies realise the importance of protecting trademarks and intellectual property. Some of the latest big name companies to sign are Apple, Hermés and Duracell, who join the ranks of Nike Inc., Procter & Gamble, and Adidas.
Anti-counterfeiting organisations such as the ACG (Anti-Counterfeiting Group) have also signed the agreement, as well as e-commerce giants Amazon, Alibaba, and Ebay. This demonstrates the ambition of the entire industry to combat what is becoming an increasingly important issue within the online consumer goods trade, namely counterfeiting.