Applied DNA Sciences Inc. (OTCBB: APDN; Twitter: $APDN) sells patented DNA security solutions to protect products, brands and intellectual property from counterfeiting and diversion. SigNature DNA is a botanical mark used to authenticate products in a unique manner that essentially cannot be copied, and provide a forensic chain of evidence that can be used to prosecute perpetrators.
An APDN company blog post about New York Knicks point guard Jeremy Lin noted that it's no surprise that in Hangzhou, China, counterfeiting Lin apparel is already up and running: " 'His jerseys have sold out, even including the counterfeit ones,' said Zheng Xiaojun, a 24-year-old clerk in the capital of Zhejiang province, the home of Lin’s distant relatives according to claims in the People’s Republic. While appreciative of the clerk’s honestly, at the point the article was written there were no 'Lin jerseys' so all the articles in the store were counterfeits—knownas jiade, or 'fake' in China."
As nearly everyone knows, NBA and other sports apparel is widely counterfeited. Last November on cyber-Monday, Immigration and Customs Enforcement Agency (ICE) shut down "150 web site domain names for selling counterfeit goods, among which counterfeit sports jerseys figured prominently. The web sites involved had racked up 77 million hits last year."
Applied DNA is tackling this problem head-on:
"The phenomenon may seem a classic case of 'too big to solve, too distant to care.' But in fact that’s far from the case. Applied DNA Sciences is already authenticating cotton in the U.S. and wool from the U.K. DNA authentication takes on the big jobs by authenticating the legitimate product, instead of identifying every fake. That is a flexible and eminently practical way of handling the biggest global housecleaning. (see for example the Gizmodo feature on Applied DNA Science 'DNA proves your fancy suit isn't a fake')."