COUNTERFEITING

COUNTERFEITING
Counterfeiting can be described as a deliberate practice or act of using an original product as a template for producing substandard products most times with the intent to defraud others to accept them as genuine products. Counterfeiting has become a global challenge affecting diverse industries and even the most industrialized economies of the world. In most parts of the world, it is considered as a criminal act whereas, in some countries it could be permitted as legitimate business especially in countries where exclusive rights or patency protection is poor.
The substandard products that are churned out into the market from this calculated act are usually a result of compromise in the various processes involved in their production, storage, and transportation. Some of the industries or sectors of the economy worst hit by this unscrupulous business are intellectual properties, medical and pharmaceutical products and consumables, domestic consumer goods, clothing and textiles, machinery/auto spare parts and accessories, electronics and electrical accessories, bank cheque and currency notes, diplomatic and other security documents.
For instance, considering medical and pharmaceutical goods, drugs are the most commonly counterfeited products under this class of goods. Drugs counterfeiting has already become an international problem affecting millions of people across the globe especially in poor developing countries. The quality of drugs produced can be compromised anywhere at the different stages of production. Most times it is the concentration of the active ingredient in the drug that is usually altered, or the use of an inappropriate stabilizing agent. Sometimes it could be poor hygienic conditions in the industrial and manufacturing process that are responsible for the emergence of the poor quality drugs. For example, one of the key quality control measures in the in the production of some synthetic therapeutic agents requires that the production process be maintained at a particular standard temperature and pressure. Once this is not adhered to, it automatically affects the end quality of that substance or drug.
Furthermore, inappropriate materials and conditions adopted in packaging, storage and transportation can also further deteriorate the quality of a drugs produced. Drugs are usually meant to be stored and transported under specific laid out conditions in order to preserve and guarantee their efficacy and quality. But it was found out that in order to cut costs; counterfeiters violate these rules and carryout storage and transport of these drugs in very bizarre conditions.
Consequently, there is a wide range of grave socio-economic problems that occur as a result of this heinous unethical act. It encourages unhealthy business competition, because genuine goods and products find it difficult to survive in a market where similar products that are counterfeited are selling for a far cheaper price than the genuine one. People especially in poor populations will generally go for the cheaper counterfeited products, particularly when the packaging is made to look exactly like the genuine product. This most times force genuine businesses to close shop since they find it difficult to thrive in such environments. This automatically causes job losses, and increase in poverty rate which tends to hit the economy of a country or location very hard.
Also, considering the medical side of view, patients treated with some of these unwholesome products most times do not respond to treatment, and may end up with more complications. For example, fake medicines have been identified as one of the major causes of renal failure.
It is glaringly evident that for our businesses to thrive and yield maximum returns, the unscrupulous act of counterfeiting in all its ramifications will have to be dealt with thoroughly. The task of combating and eradicating counterfeiting rest on all and sundry, but more on the Government and its various agencies concerned. Industrial and economic regulatory agencies will have to ensure that the right standards are and ethics are adhered to in the various industrial and economic sectors they oversee. The law enforcement agents should always move swiftly to prosecute anybody or business entity found to be violating patency laws and dealing in such fake products. Lastly, the targeted end users of these products should be enlightened to shun them and patronize genuine ones, as this will cause the business to fail since there will be no market for it again. The Government and other concerned civil society groups should take it as a challenge to enlighten the public on the repercussions of patronizing these fake products.