What are the top 2 challenges in IP enforcement you see affecting your industry over the next year?
Two major challenges in IP enforcement over the next year are the increasing sophistication of counterfeiters and their use of multiple platforms. Our research shows that 71.6% of consumers unknowingly buy counterfeit goods, a significant jump from just a few years ago. Additionally, 33% of counterfeit products are purchased on platforms different from where they were first advertised, complicating tracking efforts. The rise of AI-powered chatbots further exacerbates this issue, enabling counterfeit purchases through private messages, making traditional enforcement methods less effective. Brands need innovative solutions to stay ahead.
What is one way a brand with a mature IP enforcement program can take their efforts to the next level?
Brands can elevate IP enforcement by fostering collaboration among internal teams like marketing, legal, and customer support. This unified approach strengthens the brand's defense against infringers. Expanding enforcement to emerging platforms, niche marketplaces, and private groups provides broader protection. Additionally, educating consumers about genuine products helps them become allies in spotting and reporting counterfeits, amplifying the impact of enforcement efforts.
What hobbies or causes are you passionate about?
You’ll find me swinging a hammer at home renovations, pretending I’m on a DIY show (minus the cameras and the budget). I’m also trying to conquer golf—emphasis on "trying." My swing has more slices than a pizza, but hey, it’s a work in progress!
Contact info: Vinny.Minhas@marqvision.com
