If you take two curves $C_f$ and $C_g$ defined by a homogeneous implicit equation
$$
\eqalign{
& \left\{ \matrix{
C_f = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;f_0 (x,y) = 0 \hfill \cr
C_g = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;g_0 (x,y) = 0 \hfill \cr
C_{fg} = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;f_0 (x,y)g_0 (x,y) = 0 \hfill \cr} \right.\quad \Rightarrow \cr
& \Rightarrow \quad f_0 (x,y)g_0 (x,y) = 0\quad \to \cr
& \to \quad \left( {f_0 (x,y) = 0 \wedge g_0 (x,y) = z} \right) \cup \left( {f_0 (x,y) = z \wedge g_0 (x,y) = 0} \right)\quad \Rightarrow \cr
& \Rightarrow \quad C_{fg} = C_f \cup C_g \cr}
$$
then the curve defined by the product of the two equations is
the union of the previous two curves.
If instead you express the implicit equations as equal to $1$, and multiply them, what you obtain is the intersection
of two surfaces
$$
\eqalign{
& \left\{ \matrix{
C'_f = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;f_1 (x,y) = 1 \hfill \cr
C'_g = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;g_1 (x,y) = 1 \hfill \cr
C'_{fg} = \left\{ {\left( {x,y} \right)} \right\}\;:\;\;f_1 (x,y)g_1 (x,y) = 1 \hfill \cr} \right.\quad \Rightarrow \cr
& \Rightarrow \quad f_1 (x,y)g_1 (x,y) = 1\quad \to \cr
& \to \quad \left( {f_1 (x,y) = z \wedge g_1 (x,y) = 1/z} \right) \cr
& \to \quad \left( {F_0 (x,y,z) = 0 \wedge G_0 (x,y,z) = 0} \right)\quad \Rightarrow \cr
& \Rightarrow \quad C'_{fg} = S_F \cap S_G \cr}
$$
which of course will contain the point(s) where both $f_1 =g_1 = 1$, that is $f_0 =g_0 = 0$.
To tell it in another way
$$
\eqalign{
& f_1 (x,y)g_1 (x,y) = 1\quad \Rightarrow \cr
& \Rightarrow \quad \left( {f_0 (x,y) + 1} \right)\left( {g_0 (x,y) + 1} \right) = 1\quad \Rightarrow \cr
& \Rightarrow \quad f_0 (x,y)g_0 (x,y) + f_0 (x,y) + g_0 (x,y) = 0 \cr}
$$
versus
$$
f_0 (x,y)g_0 (x,y) = 0
$$