it's still counterfeit.. it just means you know what you're getting but the designers are still being ripped off.
it's still illegal and you're likely to end up with something of very poor quality. you'll be disappointed, it won't last and you'll have to wonder what kind of sweatshop it came out of.
The genuine company will own the rights to use their own name and logo.
Eg. If you advertise "imitation Gucci" bags, it's still illegal, because whoever made the bags has used a logo or a pattern, the intellectual property to which is owned by Gucci.
OK i will forget that idea then, but its like the clothes and items sold in Primark, that all comes from sweatshops it was on the tv but we all probally still buy from there as its cheap.