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:red_flag:COUNTERFEITING :red_flag: - Coggle Diagram
:red_flag:COUNTERFEITING :red_flag:
Fraudulently manufacturing, altering, or distributing a product that is of lesser value than the genuine product
Criminal Offense
Intent to defraud
Currency and Coins
Illegal to manufacture, possess, or sell equipment or materials for use in producing counterfeit coins and currency
Prohibits producing counterfeit postmarks, postage stamps, military papers, or government Securities
Fraudulent manufacture and sale
Computer software, CDs, consumer products, airplane parts, and even designer dresses
Strengthening of intellectual property laws worldwide
State or federal criminal charges
Civil lawsuits
Counterfeit coins appeared within a century of the first legitimate coins
Punishment for counterfeiting (death, in many cultures)
The United States issued its first federal coins in the 1780s
Counterfeiting boomed again during the Civil War, when the United States issued its first paper money
Reproductions of packaging when the intent is to defraud or to violate protections under TRADEMARK, Copyright, or patent laws
U.S. companies lose $8.1 billion annually in overseas business owing to violations of Intellectual Property laws
Counterfeiting is a class C felony, punishable by up to 12 years in prison and/or a fine of as much as $250,000
Penalties for counterfeiting