Historical perspective: Your brilliant Kickstarter idea could be on sale in China before you've even finished funding it according to The Week. In 2016 Yekutiel Sherman, an entrepreneur, launched a crowdfunding campaign for his invention, Stikbox, a smartphone case that unfolds into a selfie stick. Just one week later, Sherman found Chinese vendors selling his creation online, some even using the exact same product name! He's not alone. Tight-knit networks of manufacturers and designers in China regularly scour sites like Kickstarter and Amazon for up-and-coming products. They then work together to replicate designs and coordinate production, allowing them to churn out knockoffs with lightning speed. According to one venture capitalist who works in China: If you have a simple product that has some market demand, you will get copied.
NetLingo Classification: Online Business