With the worst economic crisis in a long time, many companies are facing the greatest financial concerns in recent memory. In these bad times, the need to protect the company’s valuable assets –its Brand – to fraudulent activities is a top priority. The brand owners can not afford to have their brand ruin its reputation due to counterfeiting, piracy or fraud.
Although the threat of counterfeit good has been around for some time the latest trend tell us that the increase of fraud is due to present economic conditions. It is estimated that in Canada alone that counterfeit and pirate goods account for over 30 billions dollars annually.
Furthermore, the answer to the question is that it is crucial to implement mechanisms to prohibit any wrong doing to your brand. It is important for management to understand that it is easier to take a proactive approach instead of a reacting to an existing problem. At the same time, every business is targeted for losses and potential losses due to counterfeit activities that will affect the net profit of the respective business.
Elco Industries will certainly assist companies to implement a Brand Protection and Product Authentication printing program. After the initial assessment, Elco will determine the degree of security required in the packaging of the products. In addition, Elco would ensure that the BPPA printing program can be efficiently, effectively and economically be assimilated within the current structure of the organization.