BrandBounty Uses Crowdsourcing To Fight Counterfeiting

A new, Los Angeles startup BrandBounty is hoping to tap into the power of the crowd to help brands fight counterfeiting. The software developer--one of the companies that is part of Los Angeles-based StartupMinds--has a product which allows brands to offer virtual prizes, contests, and cash rewards to people to help them fight counterfeiting through reports from users of brand violations, such as unauthorized use of a company's products, logos, and trademarks. Those reports then are funneled to a company's legal team. The new startup is also tackling a private label version of the app, which can be used by companies internally to manage collecting violations, which it released last week.