A counterfeit product copies the product from an authentic brand. These products can look identical to the original product and in some cases can only be identified by experts or in the laboratory. Counterfeiters use the logos and trademarks of the authentic brand without permission in order to deceive customers.
In 2022, the global counterfeiting industry was estimated to be worth around $4.2 trillion. To put this into perspective, if counterfeiting were an independent nation, its economy would be around the 4th biggest in the world.
Counterfeiting is only one form of intellectual property infringement, as it specifically targets the trademarks of an authentic brand.