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    The Harmful Effects of Counterfeit Goods
    The business of counterfeit goods is one of the largest underground industries in the world and growing rapidly. The impact on the global economy is in the billions of dollars.
    From fake handbags to mock medicines, the business of counterfeit goods is one of the largest underground industries in the world and it is rapidly growing. A counterfeit good is a product that closely resembles another product in order to trick customers into buying. Since the beginning of organized commerce, lesser goods have been portrayed as originals. The best way to stop the manufacturing of imitated products is to inform consumers of the potential harm these products pose to people and economy. If people refuse to purchase knock-off products, these rogue industries will suffer economically and ultimately disappear.
    Counterfeit Goods and the Internet
    While sales of counterfeit goods rapidly increase, so do the fraudulent sales of counterfeit products on the Internet. Because online auction sites, like eBay, have no warranties of authenticity and quality control is nonexistent, counterfeiters can easily distribute misleading or fake products around the globe. The website eBay.com describes itself as “the world’s largest personal online trading community” (Levin, 2009, 495). This statement might be accurate; however, they forgot to mention they have become the largest online venue for counterfeit goods. Since 1998, the eBay community has evolved into a nation of 81 million visitors each month. Experts advise people not to use online auction sites because they can potentially harm legitimate merchants and leave buyers and sellers with great risks of uncertainty when it comes to trading over the Internet.
    Counterfeit Medicines
    Lastly, and most importantly, people should be aware of counterfeit medicines. Imitating pharmaceutical formulations poses a serious and fast-spreading threat to the health and safety of the people. Like retail merchants, counterfeit medicines create multitudes of problems for legitimate drug manufacturers by undermining their reputations and revenues. In addition, it jeopardizes the credibility of health and safety authorities like the Food & Drug Administration. It is estimated that about 10% of medicines worldwide are counterfeit. Due to the increasing demand for cheap medicines and low production costs, counterfeiting drugs has become a vast and extremely lucrative market.
    Almost any pharmaceutical formulation can be counterfeited. High priced lifestyle medicines like fat reducers and sleep remedies, in addition to antibiotics, anticancer drugs, and inexpensive versions of painkillers or histamines can be counterfeited. Years ago counterfeit medicines could be identified by physical appearance or by reading labels for ingredients. However, over the past few years, counterfeiters have become more sophisticated, causing visual inspection to be ineffective. Today, chemical analysis is the only way to detect whether a drug is fake or legitimate.

  • The business of counterfeit goods is one of the largest underground industries in the world and growing rapidly. What is the business of counterfeit?
    A counterfeit good is a product that closely resembles another product in order to trick customers into buying. What is a counterfeit product?

    . The website eBay.com describes itself as “the world’s largest personal online trading community” (Levin, 2009, 495). This statement might be accurate; however, they forgot to mention they have become the largest online venue for counterfeit goods. What website is the largest venue for counterfeit goods?

    Imitating pharmaceutical formulations poses a serious and fast-spreading threat to the health and safety of the people. Why should people be aware of pharmaceutical counterfeits?

    What medicines make the most popular counterfeit group?