B. An unauthorized counterfeit and usually inferior copy of another's product.
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to pronunciationLegal Definition -
n. Intellectual Property. An unauthorized counterfeit and ususally inferior copy of another's product, especially one protected by patent, trademark, trade dress or copyright, usually passed off at a substantially lower price than the original.
Black's Law Dictionary Eight Edition 2004
Current Usage -
About 200 knockoff designer handbags were spread out on a patch of grass at the University of Tampa on Thursday, and Ashley Zernich had her eye on one.The $65 price tag for the white Prada imitation purse was well below the price of the real thing, which sells for about $200.
It's illegal to buy and sell counterfeit merchandise. The sale of knockoff goods rings up an estimated $600 billion in global sales each year, according to the International AntiCounterfeiting Coalition.
But that didn't bother Zernich, a freshman from Pittsburgh, or the other students browsing Thursday through the pile of Louis Vuitton, Coach and Prada imitations."I like the way it looks and it has the name on it," Zernich said. "I might as well get it for a cheaper price. No one else is going to know but me."
Russ Nelson, the man selling the handbags, said buyers know they are imitations, and he understood that it is illegal to sell them."Every flea market in Tampa and St. Pete have these things," Nelson said. "I tell them it's a look-alike. That's why they buy them. They don't want to pay the obscene amount for some of these bags." By RUSSELL RAY The Tampa Tribune Published: September 26, 2008