Counterfeit consumer goodsCounterfeit consumer goods (or counterfeit and fraudulent, suspect items - CFSI) are goods, often of inferior quality, made or sold under another's brand name without the brand owner's authorization. Sellers of such goods may infringe on either the trademark, patent or copyright of the brand owner by passing off its goods as made by the brand owner. Counterfeit products made up 5 to 7% of world trade in 2013, and in 2014 cost an estimated 2.5 million jobs worldwide, with up to 750,000 jobs lost in the U.S.
CounterfeitTo counterfeit means to imitate something authentic, with the intent to steal, destroy, or replace the original, for use in illegal transactions, or otherwise to deceive individuals into believing that the fake is of equal or greater value than the real thing. Counterfeit products are fakes or unauthorized replicas of the real product. Counterfeit products are often produced with the intent to take advantage of the superior value of the imitated product.
WatchmakerA watchmaker is an artisan who makes and repairs watches. Since a majority of watches are now factory-made, most modern watchmakers only repair watches. However, originally they were master craftsmen who built watches, including all their parts, by hand. Modern watchmakers, when required to repair older watches, for which replacement parts may not be available, must have fabrication skills, and can typically manufacture replacements for many of the parts found in a watch.
Seiko, commonly known as Seiko (ˈseɪkoʊ , seːkoː), is a Japanese maker of watches, clocks, electronic devices, semiconductors, jewelry, and optical products. Founded in 1881 by Kintarō Hattori in Tokyo, Seiko introduced the world's first commercial quartz wristwatch in 1969. Seiko is perhaps best known for its wristwatches. Along with Rolex, Seiko is one of only two watch companies considered to be vertically integrated. Seiko is able to design and develop all the components of a watch, as well as assemble, adjust, inspect and ship them in-house.
