Product counterfeiting has been an issue in many industries, from consumer products to ICs. In many instances, the counterfeit products affect only the bottom line and a company's reputation. High-end luxury consumer goods, such as handbags, wrist-watches, and other products, are among the most susceptible to counterfeiting, and the brand holders spend large amounts of money to trace and eliminate the counterfeit products and the people responsible to ensure that fake products don't sully their brands. The IACC (International Anticounterfeiting Coalition) estimates that brand holders lose approximately $600 billion of revenue annually due to counterfeiting. According to Michael Danel, the secretary general of the World Customs Organization, if terrorism did not exist, counterfeiting would be the most important criminal act of the early 21st century.
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