The article presents some brand imitation issues considering the specific features of the contemporary postmodern economy where tangible items (products) are factually replaced with their simulacra (brands). The contradiction between the “spirit and letter” of the American Marketing Association Code of Ethics and the opportunities to violate its rules while branding is highlighted. It is shown that brands represented as simulacra open extensive opportunities for imitating brand leaders. A semantic ramification of terms “brand leader” and “brand imitator” in Anglophone Internet environments is represented. A typology of brand leader imitation methods with relevant examples and comments is given. The concept of “consumer confusion” is clarified and the factors determining the impact of imitated brand leaders on consumer behavior are systemized and analytically described. The legal aspects of a brand imitation strategy (proactive and reactive options) are briefly discussed. The article is supplied with relevant tables and pics.