Dangers Faced by a Brand
The main dangers faced by any brand are stealing of its intellectual property and counterfeiting of its products. Sales of counterfeit and pirated goods across the world are more than
$1.7 trillion. Counterfeit products harm the perception of the brand in the eyes of the customer. Studies have shown that if a consumer buys a counterfeit product of a brand, he/she is less likely to buy the real product ever again.
Counterfeiting also leads to less profit for the original brands since a reasonable copy of their products is available at a considerably lower price in the market. However, if a consumer is unaware that what he/ she is buying from a website is a counterfeit product, he/she always associate the quality of that fake product with the brand. Therefore, it leads to a big loss of the reputation of the brand in public.
For example, Louis Vuitton, Gucci, and Ray-Ban are three of the most affected brands by counterfeiting. There are websites created explicitly for malicious purposes. There are different types of these rogue websites.
Typo squatters: These websites an almost identical web address to another popular website. They expect a customer to make a typo and stumble upon such sites
Imitation sites: These are sites designed exactly like the original website of a brand.
Patent theft: A patent is a legal ownership over an innovative product by a company. A patent is provided as an incentive for invention and innovation. However, these patents are often stolen and thus negatively impact the profits of the patent-holding firms.
Fake social media accounts: These are fake accounts, which imitate a brand sell counterfeit products via their platform.
Although brands now have learned to fight this by having their verified social media accounts.
Role of a Brand Protection Firm
Brand protection firms quell these threats through a four-level process.
Detection – Brand protection firms look for intellectual property infringements, sale of counterfeit products on e-commerce websites and so on, throughout the internet.
Verification – In this process, the firm verifies whether the infringements found are infringements or not. Again, this is done to not punish innocent companies.
Enforcement – During this stage, the verified intellectual property infringements are removed from the internet and e-commerce websites.
Reporting – Ultimately, the brand is made aware of the current situation of its intellectual property and advised on how to manage it better in the future.
Use of Software for Brand Protection
Since many intellectual property infringements happen are online, the use of modern brand protection technology has become necessary to monitor the online market space. Following are the two important features of the software used in brand protection services:
Keyword monitoring – Counterfeits that are put on e-commerce websites use specific keywords to top in search results. Bots are used to track these keywords, and these counterfeits are unlisted from these websites.
Image recognition – This software can instantly analyze and recognize images online. There are different levels of complexion to image recognition software. Some can only find similar images, while others can identify objects within these images.
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