Tech-Enabled Legal Services Disrupt Counterfeiters
SAN FRANCISCO, Dec. 16, 2019 /PRNewswire/ -- Global sales of counterfeit goods is projected to reach 1.82 Trillion USD annually by the year 20201, representing approximately 3.5% percent of global trade2–underscoring the acute need for new and innovative approaches. The technology industry is the most highly targeted by counterfeiters, according to the OECD2, accounting for 42% of counterfeit products sold globally.
Relying upon research and analytics provided by technology-enabled legal services (TELS) company Rowan, a federal judge barred four criminal confederations of foreign companies from selling counterfeit Cisco networking products on thousands of websites and online marketplaces.
Rowan's approach changes the economics of counterfeiting by using technology to identify the largest networks of high-volume counterfeiters (HVCs). The approach uses litigation to quickly obtain broad injunctive relief that strikes at the basic tools of commerce used by counterfeiters. Cisco obtained a broad injunction that will prevent sales of counterfeit products by these defendants and will send a message that Cisco will pursue all available options to protect its customers and partners.
"Online counterfeit sales have long been viewed as an insurmountable cost of doing business," said John Amster, Founder and CEO of Rowan. "Our technology enabled approach provides a scalable, cost-effective solution that will benefit manufacturers, marketplaces and consumers."
"Combating counterfeiting and intellectual property theft is a sizeable challenge facing the entire tech sector and puts public health, safety and national security at risk," said Mark Chandler, Executive Vice President, General Counsel at Cisco. "Rowan's approach disrupts the counterfeiters' entire ecosystem, and we encourage all companies facing this pervasive problem to join this effort."
2 OECD
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SOURCE Cisco; Rowan
