There’s a law for everything.
And selling fake branded stuff on purpose is obviously not above the law.
But did you know that by doing that, you could be fined up to $100,000?
That’s right; if found guilty of selling or distributing goods with falsely applied trademarks, you may be fined up to a maximum of $100,000 and/or jailed for up to five years.
This clause was brought to prominence when two men and two women, between the ages of 28 and 49, were apprehended for their conjectured involvement in the sale of fake luxury and sports items on August 23.
Counterfeit Operation
The six-hour operation came to an end when Police officers from the Criminal Investigation Department (CID) raided three stores on the sixth floor of Lucky Plaza and a Bukit Timah residential unit.
The two women are Singaporean, while the other two men are a Chinese national with a work permit and a Singapore PR from the Philippines respectively. One of the women ran a shop with the Chinese National, and the other two operated a shop each.
During the operation, more than 1,700Â pieces of trademark breaching goods such as footwear, apparels, bags, accessories, watches, pouches, wallets, belts and shoes were confiscated.
According to the police, these goods are worth up to an estimated street value of $51,235.
Investigations are still continuing. The police said in a news release “that they take a serious view against intellectual property right (IPR) infringements and will not hesitate to take action against perpetrators who show blatant disregard for Singapore’s IPR laws”.
Thoughts
I’m sure we have all sported counterfeit goods at one point or another (I’m looking at you Adidas people who have just come back from Bangkok), and we probably just went with it without a second thought.
If you think about it, however, the authentic brands are all making a loss whenever you choose to buy a fake one over a real one.
What happens when they make a loss? They will slowly stop pushing out new stuff. We will get none of those limited editions we crave for. The brands will die out.
So maybe… just maybe… we should stop supporting counterfeit goods and go for all the real brands…
Nah, just kidding.
Just to clarify… we are NOT advocating the sale of counterfeit goods alright?
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Feature Image: stomp.straitstimes.com
This article was first published on goodyfeed.com
Here's a summary of the Chocolate Finance saga, simplified so even a non-finance kid can understand:
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