BOSTON, Sept. 18, 2020 /PRNewswire/ -- MarqVision, an AI-based SaaS company, recently launched its brand protection platform that helps brands effortlessly detect and remove counterfeits on online marketplaces. With this launch, the company takes a major step towards fulfilling its mission of modernizing companies' fight against online frauds and thereby rendering the ecommerce supply chain more transparent.
MarqVision allows brands to automatically detect and remove infringing listings from global online marketplaces deeply infiltrated by counterfeiters, such as Amazon, eBay, and Taobao. MarqVision's deep-learning-based image recognition model scans through millions of product listings and finds listings with images containing products that look similar to the legitimate brand's products. Its machine learning model then detects infringements among those listings based on information such as price, product description and customer reviews. Finally, MarqVision's bot-powered reporting system automatically files take-down requests for those listings that the legitimate brand owner confirms as infringements.
With MarqVision, brands can efficiently protect their sales and reputation from IP infringers. First, it allows brands to regain sales revenue that have been hijacked by counterfeit and knockoff sellers. It also helps brands protect their reputation from negative reviews and restore customers' trust. And thanks to MarqVision's AI-powered automation technology, brands can enjoy these benefits with significantly greater efficiency. The traditional anti-counterfeiting solution involves IP specialists' manually searching for infringements and doing the paperwork required to remove them. With MarqVision, however, brands can save a considerable amount of time and money by automating the repetitive chores involved in detecting and reporting counterfeits.
"The counterfeit market is currently a $1.7 trillion industry, which makes it the largest criminal industry in the world," said MarqVision CEO and co-founder Mark Lee. "We have pioneered a technology-driven way to solve this serious problem using artificial intelligence. Our beta clients have experienced a 30-fold efficiency increase in their anti-counterfeiting efforts."
MarqVision embarked on its fight against online frauds by first focusing on the buyer fraud problem. But after realizing the gravity and extensiveness of the seller fraud problem, the startup switched gears to take on the challenge of modernizing the way brands have fought counterfeit sellers.
Detecting and removing counterfeits from ecommerce is just a start for MarqVision. "Although taking down infringing listings has its own merits, the risk of infringement does not entirely disappear until the counterfeiter behind those listings are tracked down and forced to face legal consequences," said Lee. "Our engineers are building a mapping technology that matches data points from different ecommerce platforms in order to connect sellers to the infringer behind, reveal the infringer's identity, and allow brands to take legal action against the infringer. We plan on equipping the current product with this sophisticated technology soon so that we can stop the distribution of counterfeits at the source."
For more details on MarqVision's brand protection solution, and to sign up for a free trial, please visit https://www.marqvision.com
MarqVision is a SaaS company that builds AI-based solutions to modernize companies' fight against online frauds. Using MarqVision's brand protection service, brand owners can automatically find and remove online counterfeits to protect their customers and profits. Founded in 2019 by computer scientists and IP law experts from Harvard University and MIT, MarqVision is headquartered in Boston, Massachusetts.
Marq Vision Inc.
SOURCE Marq Vision Inc.