DEFINITION of 'Brand Piracy'
When a product is named similarly to a well-known brand so that consumers may mistake it for the actual brand-name. Brand piracy is common among products that can easily be replicated. The copies often have logos that resemble the design of the genuine product, be it layout, symbols, color or font. Oftentimes, this is done on purpose by a company to mislead consumers and gain some market share.
BREAKING DOWN 'Brand Piracy'
Commonly known as "knock offs," these products are an infringement of trademark laws and are considered a form of brand piracy. Many cases of brand piracy have occurred throughout China and India, where several law suits have been filed. Companies spend years and millions of dollars building and vigorously protecting their brand names.