How To Make Millions On Counterfitted Goods The Honest Way
Faux products are hot -- and so are the Web's counterfeit detectors. Though official numbers are scarce, online protection company MarkMonitor says a record $119 billion in knockoff goods will be sold on the Web in 2007, up from $84 billion last year - everything from counterfeit watches to fraudulent pharmaceuticals.
Companies pay outfits like San Francisco-based MarkMonitor to handle the problem. The privately held company says its revenue grew by 50 percent in 2006 to an estimated $25 million. Its 500 corporate clients pay fees starting at $50,000 a year - a small price to help save millions in fraudulent sales.
For example, Acushnet, maker of Titleist golf balls and clubs, was able to shut down 75 auctions of knockoff gear in one day last June using MarkMonitor's software - and it took just one mouse click and "about three minutes from starting enforcement to ending the auctions," says Acushnet trademark manager Lisa Rogan.
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I was on vaction four times last year. This is who paid for it.