One of the most pressing challenges is dealing with counterfeit packaging. Counterfeiters lack the knowledge and resources to create passable fake components so they rely on slick packaging to create the illusion of premium products.
The National Intellectual Property Rights Coordination Center (IPR Center) is an interagency government organization that focuses on IP rights and enforcement, specifically counterfeit products. At a summit in late 2017, it was stated that in the previous year, the estimated value of global counterfeit products had risen to around 3- 3.5% of global trade. Compare that against 2013, where there was a 2.5% increase from the previous OECD study. A clear pattern of counterfeit growth has emerged for the last 10 to 15 years for all products. So why, specifically for bearings, has there been such an increase in counterfeit activity? Schaeffler’s Director IP, Americas, Antun Peakovic says it likely has something to do with risk versus reward.
“If you sell $1million of counterfeit bearings, you may get a small fine. If the theft is really egregious, you might even get some jail time. But it’s more likely a conviction would lead to a fine or something with parole. By contrast, if you sell $1million in narcotics, you’re going to get a very steep penalty.” To combat the steady stream of counterfeit bearings flowing into the market, manufacturers
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