ROCHESTER, NY--(Marketwired - Jan 31, 2017) - Document Security Systems, Inc. (NYSE MKT: DSS), a leader in anti-counterfeiting and authentication solutions, today announced it has agreed to become the annual sponsor for the Intellectual Property Council (IPC) for the Automotive Aftermarket Suppliers Association (AASA). The IPC is a working council within the AASA and was formed to address issues related to counterfeiting, intellectual property theft, and misappropriation of trademarks. DSS will take an active role in the IPC and AASA.
Counterfeiting and other intellectual property theft are major issues for automotive companies and parts suppliers. Counterfeiting is a $1.77 trillion1 problem as of 2015, and automotive parts are a primary target. DSS currently provides anti-counterfeiting solutions to major automotive companies, which makes DSS an ideal contributor for the Council.
"Partnering with DSS is a strategic win for the Council, AASA, and our members," said Chris Gardner, AASA vice president of programs and member services. "Its expertise in fighting IP theft and counterfeiting, along with strong experience in the automotive industry, means we have a partner that can help AASA and our members implement effective strategies."
DSS' AuthentiGuard solution is the company's flagship anti-counterfeiting offering. AuthentiGuard combines a secure mark printed on product packaging with a smart phone application so investigators, supply chain personnel, or consumers can validate the authenticity of products. The results of scans performed in the field are saved in a database, which the brand then uses to analyze and identify how counterfeit product is compromising the supply chain. With proliferating fraud threatening the safety of consumers worldwide, AuthentiGuard allows users to protect themselves through product authentication while simultaneously helping the manufacturer understand the threat so they can direct resources for remediation.
"AASA is at the forefront of helping members deal with the proliferation of counterfeit goods and parts," according to Mike Tobin, DSS vice president of marketing and product management. "Partnering with such a forward thinking and committed organization was a perfect fit for DSS. We are committed to helping eliminate the threat of counterfeit goods especially in something as critical as the parts industry. In the AASA, we have a partner who is dedicated to protecting its members and the safety of consumers around the world."
DSS will actively participate in all IP Council meetings. The company will present at the next IP Council meeting, which will be held March 29 in conjunction with the 2017 AASA Vision Conference in Chicago. The topic to be presented will be Big Data & Coming Changes in Brand Protection. For more details about the IPC and the AASA Vision Conference, visit www.aftermarketsuppliers.org.
About Document Security Systems, Inc.
Document Security Systems, Inc.'s (NYSE MKT: DSS) products and solutions are used by governments, corporations and financial institutions to defeat fraud and to protect brands and digital information from the expanding world-wide counterfeiting problem. DSS technologies help ensure the authenticity of both digital and physical financial instruments, identification documents, sensitive publications, brand packaging and websites.
DSS continually invests in research and development to meet the ever-changing security needs of its clients and offers licensing of its patented technologies. For more information on the AuthentiGuard Suite, please visit www.authentiguard.com. For more information on DSS and its subsidiaries, please visit www.dsssecure.com.
Forward-looking statements that may be contained in this press release, including, without limitation, statements related to the Company's plans, strategies, objectives, expectations, potential value, intentions and adequacy of resources, are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act and contain words such as "believes," "anticipates," "expects," "plans," "intends" and similar words and phrases. These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from the results projected in any forward-looking statement. In addition to the factors specifically noted in the forward-looking statements, other important factors, risks and uncertainties that could result in those differences include, but are not limited to, the outcomes of any of the Company's litigation, its ability to raise capital, and those risks and uncertainties disclosed in the "Risk Factors" section of the Company's Annual Report on Form 10-K for the year ended December 31, 2015, filed with the Securities and Exchange Commission. Forward-looking statements that may be contained in this press release are being made as of the date of its release, and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements.
1 OECD, Magnitude of Counterfeiting and Piracy of Tangible Products: An Update (2009). http://www.oecd.org/industry/ind/44088872.pdf