This is the second of a six-part series (see part 1: Brand protection and expansion) exploring how companies can grow the value in their brands by leveraging and protecting their intellectual property. In today's article, we will discuss how to best help U.S. Customs and Border Protection (CBP), a division of the U.S. Department of Homeland Security, keep counterfeit versions of your products out of the United States.
Even as the world economy has sputtered, global intellectual property theft and trafficking in counterfeit and pirated goods has grown at an alarming rate. The Counterfeit Intelligence Bureau of the International Chamber of Commerce estimates that counterfeit goods make up 5 percent to 7 percent of world trade. Counterfeiting is thought to rob U.S. businesses of $200 billion to $250 billion annually, and has evolved into a sophisticated black market industry involving the manufacture and sale of counterfeit versions of everything from pharmaceuticals to airplane parts.