Businesses can implement several strategies to combat counterfeiting:
1. Legal Action: Pursuing legal remedies against counterfeiters, including suing for trademark infringement. 2. Technology: Utilizing advanced technologies such as RFID tags, holograms, and blockchain to track and authenticate products. 3. Collaboration: Working with governments, industry groups, and other businesses to share information and resources. 4. Consumer Education: Informing consumers about the risks of counterfeit goods and how to identify genuine products. 5. Supply Chain Security: Strengthening the security of the supply chain to prevent counterfeit products from entering the market.