The legal tech company SnapDragon is enabling toy brands to wage war against counterfeiters and copycats with the launch of its new concept, Swoop.
Swoop is an automated brand monitoring platform for brand owners across all industries, including toys. It is the first of its kind to be made publicly available.
Fake good across many markets have been reported in many cases as fatal or the cause of serious injury owing to the lack of conformity to the rigorous quality and safety standards that genuine brands must comply with.
Profits from the sale of counterfeits can make their way into underground economies and frequently fuel illegal and criminal activity.
Today, trade in fake goods makes up 2.5 per cent of all world trade and is growing by 25 per cent year on year according to the OECD.
Rachel Jones, founder of SnapDragon, said: “Our goal is to drastically reduce the global scale of counterfeit goods. Fake goods can destroy brands – I should know – it nearly happened to me. I took action to fight back and have spent the last few years helping other companies do the same.
“Today we are automating that process. By enabling companies, large and small, to find fakes and by empowering them with the knowledge to take action, sales and counterfeit goods can be prevented, brands and the consumer can both be kept safe, business remain profitable and fund flow to criminal enterprises cut.”
The design of Swoop’s software has been shaped by SnapDragon’s team of linguists and IP experts over the course of three years of manual search for fakes.
Today’s announcement marks an important step change for the international online brand protection market.
SnapDragon aims to make brand protection affordable for SMEs through its software as service model.
Mandy Haeburn-Little, CEO of Scottish Business Resillience Centre, added: “I am genuinely delighted to see a company as respected, nimble and visionary as SnapDragon emerge. Scotland has an excellent reputation for innovation and Rachel Jones is one of those rare and outstanding individuals prepared to stand up and safeguard the wider interests of the whole legitimate business community.
“Ironically, counterfeits and fake goods are areas where there has been considerable entrepreneurship as malicious and reckless companies have seen the opportunity to make a fast buck, regardless of the damage they cause.
“It is precisely because of these insidious companies that we need champions in the world of protection. Rachel Jones and SnapDragon are at the forefront of this activity in Scotland, the wider UK and internationally.”
SnapDragon works with a diverse portfolio of clients in the UK including Harris Tweed, Morphsuits, Johnstons of Elgin, Glencairn and Cheeky Chompers.