The Counterfeiting Paradox

Counterfeiting is a billion-dollar industry. Software, cars, jewelry, clothes, music, auto parts, prescription drugs, cameras. Name any major brand and chances are there’s a counterfeit version of it somewhere. According to the World Customs Organization, counterfeiting accounts for 5 to 7 percent of global merchandise trade, equivalent to lost sales of as much as US$512 billion last year. And for those most concerned about growing costs and prevention tactics, all eyes are on China.