Question

1. Why do you think counterfeiting is so popular in places like India? Have you had any experience buying counterfeit goods? What are companies doing to fight against counterfeit products?

2. The book lists many advantages and disadvantages of small business ownership, which do you agree with the most? Would you start a business?  How are websites like Kickstarter and Gofundme helping with small business ownership?

Answer 1

1.

Counterfeiting is popular, because it comes at a lower price and it gives the resemblance of an original products  It happens and people like to purchase counterfeiting  goods, because they lack the purchasing power to buy the original goods. For example, people like to by counterfeited T shirts of big brands, because the original T shirts come at a very high price and they are unable to purchase in countries like India. Even if purchasing power is rising, but there is still a big section of the society that likes to buy goods that are counterfeited in nature.Besides, weak IPR laws and anti counterfeiting  laws with lack of strong network to catch the counterfeited goods, also promote it.

I have no any experience of buying these goods, but I have observed the selling of counterfeited goods while passing through the unorganized markets where the products are completely look alike and similar in quality, but 5 times less costly. Besides, there is nobody, who is stopping people selling these goods. So, counterfeiting  is getting popular.

Companies to fight against counterfeiting, are doing things as follows:

1. Launching the products that are lowly prices, made only for these markets where income level is low so that they can buy original products at low price. It will prevent counterfeiting.

2. Acting in collaboration with the government to strengthen the anti counterfeiting  laws and helping government to take measures to prevent it. For example, closing down the websites selling counterfeited goods, considering online counterfeiting  as cyber crime among the other action.

3. Spreading awareness among people to stop using counterfeited goods and warning them of its consequences (indirectly).

4. Collaboration with local companies who can report the instances and sources of counterfeiting  and then taking action against the culprits.

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