MarqVision: the startup changing brand protection

The industry of AI is growing explosively, with exciting new companies being founded every day. We’ve highlighted the next startup to illustrate its positive impact by using AI for daily operations on an industry that has been staggering in growth for some time. In this article, you’ll read about MarqVision, a company at the cutting edge of AI in next generation brand protection services.  

‍Marqvision is a Los Angeles based startup founded in 2020, fighting the trade of online counterfeit products with their vision. They’ve designed an AI-powered infrastructure to detect fraudulent imitations of the original products in e-commerce. In just two years, the company has managed to land high-profile customers such as Ralph Lauren and Pokémon. Since the launch, they’ve experienced a whopping monthly growth rate of 50% in the first six months. How can the innovating AI startup’s success be explained? Keep on reading!

Mark Lee launched the company after finishing a degree at Harvard. Initially, Lee started out by co-founding another business in South Korea. After a few years, the legal matters around brand protection and intellectual property theft challenging the existence of the company drew his concern. He learned that an AI-powered system was the perfect solution for the problem that generates 600 billion dollars per year in sales of fake goods, according to news organization The Guardian. MarqVision helps brands find and remove these products from the online market and is the world’s first developer of AI-powered brand protection.

The concept is to deliver AI that detects as well as reports copied products. As their CEO Mark Lee stated: “Our mission is to help brands, retailers and marketplaces navigate brand and IP protection.’’ The brand protection industry is severely outdated, as the biggest problem is the huge scale of counterfeit sales. This is why big operations are required to deal with this type of criminality. But in this field a lot of the scanning counterfeit product operations take place manually, leaving the problem unresolved. The Marqvision entrepreneur also attributes the huge growth rate to the size of the problems companies face battling fake products.

MarqVision helps brands find and remove these products from the online market. The company does so by using image recognition and language processing AI. The startup has claimed they have a 97% accuracy of spotting and removing counterfeit products from the digital market. Lee also stated that unlike their competitors who have to individually inspect the goods manually with employees, the strategic advantage that MarqVision has is that their process is completely automated from the beginning to the end. This offers them an advantage in time and effort. The company finds that the key to their high accuracy rate is that the algorithm used is trained to look at behavioral patterns of fake goods sellers. Once the system identifies a product as counterfeit, it reports this to the particular brand concerned. Once this has happened, the brand owner has the possibility to approve MarqVision taking action and reporting the product to the marketplace selling it.

After the momentum they’ve had over the past time, MarqVision is planning to expand to Europe next year. The startup is unique because the’ve managed to achieve a huge growth in an industry that for decades has seemed to be cooled down. MarqVision has completely changed the field of brand and intellectual property protection by its image recognition and language processing AI.

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‍All images created by DALL-E

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