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"Education is the most powerful weapon which you can use to change the world”
– Nelson Mandela

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counterfeit product

counterfeit product

Q Have you ever knowingly purchased a counterfeit product – perhaps a purse or a wallet or maybe a watch for example. What are some of the implications for your purchase decision for the real company as well as for the entrepreneur selling the counterfeit product. How do counterfeit products help an economy? How do they hurt it? How do decisions to buy counterfeit items influence new product development policies at companies? Would a legal system that protects property rights changes any of your answers?

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Yes, I have knowingly purchased a counterfeit product from my last trip to Thailand. I bought a Michael Kors handbag. These products are fake of the original product; therefore, it can be stated that such purchase decision can impact the real company. Most of the customers who cannot afford branded product because of premium pricing, such counterfeit products really help the customers to obtain branded products with the name and logo of the brand at a lesser price than the actual brand. There is always a market for counterfeit products as the