Description
Why is there a market for counterfeit goods? How does this market benefit sellers?
Explanation & Answer
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Counterfeit products encompass all products made to closely imitate the appearance of the product of another as to mislead consumers. Those can include the unauthorized production and distribution of products that are protected by intellectual property rights, such as copyright, trade marks and trade names. Existence of market for counterfeit goods is very important to consumers as it gives they are very worth. Manufacturers have built up based on marketing investments and the recognized quality of their products, in order to fool consumers. In addition, existence of market for counterfeit goods is very important to consumers as it gives they are very worth.
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