Counterfeit refers to the act of creating imitation goods or currency with the intent to deceive. To combat counterfeiting, individuals and organizations can take measures such as educating themselves about authentic products, reporting suspicious items to authorities, and utilizing anti-counterfeiting technologies like holograms or QR codes. Additionally, consumers should purchase from reputable sources and verify the authenticity of high-value items. Engaging in awareness campaigns can also help reduce the prevalence of counterfeit goods in the market.