There are millions of counterfeit products bought and sold each year worldwide, including fake brand name shoes, electronics and cosmetics. What are the reasons for this, and what are the solutions? Use explanations and examples to support your opinion.

Every year, millions of fake merchandise, which include unauthorized replicas of forged branded footwear, technology, and make-up,

are purchased

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is purchased

and sold across the globe. The major reasons for the countless fake products in the international

market

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are easy profits and enormous enthusiasm for

such

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brands in people, while the solutions are strict laws and more regulations.

To begin

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with, the revenue of black

market

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organizations increases effortlessly by selling forged products to customers.

In other words

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,

such

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companies do not consider the overhead for research and development, as well as marketing for their counterfeit goods which saves millions of dollars for them and boost their profits.

For example

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, a news article released in 2017 stated that over 50 million dollars worth of fake Nike shoes were sold in the Asian

market

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in less than a year.

Furthermore

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, many unauthorized companies are reverse-engineering the original products because of the increasing obsession of purchasing branded products in people.

As a result

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, selling forged products become exceedingly uncomplicated for them, which eventually gaining their business by billions of dollars annually. There are two effective solutions to decrease the number of counterfeit products from the global

market

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. One way to tackle

this

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issue is that authorities must establish a hefty penalty and strict punishment for the manufacturers of these products.

Moreover

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, thousands of dollars of fine must be imposed on

such

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unauthorized companies and there ought to be imprisonment of ten years in order to deter individuals from attempting forgery in the future.

For instance

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, a recent report published in the Asian Business sector claimed that an increase of 40% of counterfeit products in stores is due to the negligible fines and lack of regulations. Another possible solution is that the government needs to allocate more resources to police departments so that not only they can seize the black

market

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companies, but

also

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keeps a regular check of illegal manufacturers in the local areas.

Consequently

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,

this

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will put a sense of fear in black

market

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dealers and reduce the illegal business of forged products. To conclude,

although

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counterfeit products are sold at the global level because of easy profits and to give an illusion of originality to people, it must be controlled by establishing stringent laws, imposing an enormous penalty, or long imprisonment to forgers.