Protect your equipment, business and customers from spare parts fraud

According to a study by the OECD and the EU Intellectual Property Office (EUIPO), trade in counterfeit and pirated goods amounted to up to 2.5 % of world trade in 2019. (1) The US Chamber of Commerce estimates that counterfeit products costs the global economy over $500 billion a year. (2) Huge problems for economies, IP protection and incentivization to innovate. But for industrial machinery and applications, human safety becomes the more serious concern—counterfeit spare parts are manufactured for maximum profit, not reliability.

Every two years, the VDMA, one of the largest trade associations in Europe, surveys its members about the impact of parts piracy. For 2022, more than 70% report being affected, more than 40% report counterfeits that risk operator safety, and more than 50% see dangers to operational safety arising from their use. (3) We’re all worried about them. But they’re everywhere—and not always easy to avoid.  

How to fight spare parts copycats and counterfeits?