Counterfeit watches are a serious problem; the American Watch and Clock Institute sell a DVD on identifying fake Rolexes, with the target audience being professionals in the watch industry. Innocent parties can (and frequently do) pay large sums of money for worthless fakes.
https://www.awci.com/online-store/dvd/
It's one thing selling a replica "Bolek GMT-Master" with a standard ETA movement in a white box, but it's quite another thing to sell a very convincing counterfeit complete with Rolex-branded packaging and a counterfeit certificate of authenticity. If the counterfeiters are so honourable and have no intent to deceive, why don't they discreetly engrave the word "REPLICA" on the caseback, case, movement main plate and bracelet?
The moral line in the sand is putting the word "Rolex" on the dial. I have absolutely no issue with someone making a watch that copies the form and function of a Rolex watch, but I take great exception to someone using their name.
Trademark is an absolutely essential part of modern commerce. Trademark infringement is tantamount to identity theft - counterfeiting is a fundamental attack on the reputation of the counterfeiting victim and has a corrosive effect on trust. There are legitimate arguments against patent and copyright law, but I see no legitimate argument against trademark law.
