VerifyMe and Corsearch to Collaborate on Positive Solutions for E-Commerce Counterfeiting and Brand Abuse
Collaboration Expected to Increase Brand Protection and Anti-Counterfeiting Options for Rights Holders
Rochester, NY – Globe Newswire – August 20, 2020 – VerifyMe, Inc. (NASDAQ: VRME), a digital technology solutions provider specializing in brand protection functions such as; counterfeit prevention, authentication, serialization, track and trace features for labels, packaging and products, and Corsearch, Inc., a brand clearance and protection leader, are pleased to announce a collaboration that will support brands to reduce the global multi-billion dollar economic impact resulting from counterfeiting and piracy activities.
The relationship will enhance enforcement capabilities for brands through the proactive identification and removal of unauthorized websites, domains, and products bearing the genuine intellectual property of legitimate companies.
VerifyMe and Corsearch will work together to offer technologies and services that better enable their customers to effectively tackle counterfeit websites, domains and e-commerce platforms offering counterfeit products.
Following its acquisitions of Yellow Brand Protection and Pointer Brand Protection, Corsearch has strengthened its end-to-end trademark clearance and brand protection solutions, making it the only provider in the industry offering services covering the entire trademark lifecycle. In addition to its global footprint and teams of expert Brand Protection Analysts, Corsearch uses its proprietary ZERO® technology, as part of its advanced and intuitive brand protection platform, to retrieve and organize vast quantities of data on counterfeits, fake websites, and other forms of brand infringement.
The companies have engaged in a cooperative business relationship, with VerifyMe attaining the right to use and offer Corsearch’s brand protection solutions, powered by its ZERO® technology, and Corsearch having the enhanced ability to offer brand owners the suite of VerifyMe technologies to protect their products. The new partnership will also allow VerifyMe to market a new digital service for brand website and domain owners needing to identify and remove counterfeit websites.
VerifyMe Chief Executive Officer, Patrick White, commented, “We look forward to working with Corsearch, a well-respected and known global firm. We believe their global reach and experience in serving over 5,000 clients is unmatched in the Internet brand identity industry. Internet website and domain, and e-commerce counterfeiting is on the rise and this is a natural extension for our brand protection and product authentication digital solutions.” White added, “Corsearch will now have the ability to protect their brand client’s products with VerifyMe’s suite of product authenticity.”
Corsearch CEO, Tobias Hartmann, added, “As the e-commerce landscape grows ever more complex, brands are facing a wide range of new challenges that require integrated solutions from experts with a variety of specialisms. We believe that collaboration will play a huge role in solving these problems and restoring the rights of brand owners. At Corsearch we believe in a ‘stronger together’ mentality, and this is another example of that.”
Headquartered in New York City and with offices all around the globe, Corsearch offers a full suite of end-to-end trademark and brand solutions. Whether you need to perform an initial trademark screening or organize complex anti-counterfeiting investigations at a global level, the Corsearch Platform supports you from every angle. In one integrated, intuitive ecosystem, Corsearch offers advanced solutions for Trademark Screening, Searching, Watching, Online Brand Protection, Domain Management, Traffic Recovery, and much more. Corsearch has over 500 employees serving more than 5,000 clients on five continents. For additional information, please visit: https://corsearch.com
About VerifyMe, Inc.
VerifyMe, Inc. (NASDAQ: VRME), is a technology solutions provider specializing in brand protection functions such as counterfeit prevention, authentication, serialization, and track and trace features for labels, packaging and products. VerifyMe’s technology authenticates packaging, labels and documents with a suite of proprietary security inks and pigments, which work in conjunction with serialization and track-and-trace software known as VeriPAS™ that allows both consumers and brand inspectors to verify authenticity with their smart phones. VeriPAS™ is a serialization software system that brand owners access through a web portal to monitor, control and protect their products complete life cycle. To learn more, visit www.verifyme.com
Cautionary Note Regarding Forward-looking Statements
This release contains forward-looking statements regarding revenue opportunities, the use of our products in additional presses and locations, the results of ongoing tests, and roll-out of our products and authentication devices which involve uncertainty and risk. The words “believe,” “may”, “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions, as they relate to us, are intended to identify forward-looking statements. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. Important factors that could cause actual results to differ from those in the forward-looking statements include our ability to work with partners in selling our technologies to businesses, production difficulties, our inability to enter into contracts and arrangements with future partners, and issues which may affect the reluctance of large companies to change their purchasing of products, acceptance of our technologies, the efficiency of our authenticators in the field, our patents including potential litigation, the successful development of our sales and marketing capabilities, and the ongoing novel COVID-19 pandemic. Further information on our risk factors is contained in our filings with the SEC, including the Form 10-K for the year ended December 31, 2019 and our quarterly reports on Form 10-Q. Any forward-looking statement made by us herein speaks only as of the date on which it is made. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by law.