Counterfeit goods touch almost every industry. From watches and bags to milk and medicine there’s a fake for everything. Sometimes we laugh it off as harmless. They say mimicry is the best form of flattery. But what does it really mean to us? Here are 10 reasons to think about…
1. The wrong person gets the rewards
The entrepreneur who put their time and effort into making the original product gets virtually none of the benefits. Coming up with great ideas, researching, prototyping, analyzing, iterating through versions, testing, certifying and marketing products all needs to be done before a single unit is sold. How are they going to get returns on all this?
2. It’s immoral to steal someone else’s idea
In most countries it’s illegal. Nobody deserves to be ripped-off, nor are companies making so much money they don’t care. Why should anybody go through the whole product development process, qualify that there is a valid demand and then bear all the effort to launch it – only for some other dude to come along and take their money?
Thanks for this Factory Five!