Globalization has paved way for the wide expanse of the business into areas beyond geographical boundaries and technological innovations have helped business houses and corporate sectors make their presence felt on the World Wide Web.

1. Anti Counterfeiting: Protection from Fraudsters and Grey Marketers
Globalization has paved way for the wide expanse of the business into areas beyond geographical
boundaries and technological innovations have helped business houses and corporate sectors make
their presence felt on the World Wide Web. These enterprises and large business houses are also faced
with challenges of theft, piracy and grey market activity.
The grey market activity being a major threat with abilities to shake up an organizations bottom line,
the product managers and executives need to work out anti-counterfeiting measures to combat this
and many more threats arising from counterfeiting issues. These threats not just affect the revenue
generation system but also corrode the company’s market share and brand reputation. The worst
effected ones by these are the pharmaceutical industries and the technology giants. The World Health
Organization reports a minimum of 10% of drugs supply being counterfeit, with the higher level going
beyond 50% and involves branded, generic and over-the counter medicines.
As for the IT industry, the proliferation of counterfeits is mostly through unauthorized channels opened
as a result of outsourcing and globalization. Reports that have poured in show the semi-conductor
industries losses amounting to billion dollars every year as a result of illegal sales. But these are just
related to reported facts. Most cases go unreported too. Even as the FBI termed product counterfeiting
as the crime of the century, the fraudsters through grey market sales and counterfeit products earn
revenue returns amounting to 600 billion dollars.
The first step towards brand protection actions is to understand the level of damage done by the grey
markets to the manufacturer as well as to the retailer. The grey market products are acquired from
the unauthorized dealers of authorized channels and are sold at higher discounts, thus affecting the
authorized sales revenue. To combat these, organizations can invest in good online fraud protection
solutions. These enterprise anti counterfeiting solutions, a software-as-a service offered by the leaders
in industry besides providing an end-to-end brand protection will also provide a round the clock real-
time monitoring of the sources which will help to list out violators and take necessary action against
them.

2. Another industry where the anti-counterfeiting solutions need to be implemented is the pharmaceutical
industry. Pharmaceutical counterfeiting affects not just the manufacturers but also the consumers and
the government. With the help of pharmaceutical anti-counterfeiting, manufacturers can get a clear
view of the worldwide market in a real-time format. This helps the government to find violators, stop
counterfeiting actions and recover lost revenues.