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Casey Committee Reports Rise In Intellectual Property Theft

08/12/12

Source: BNA
Related Topics: International Trade

Infringement of U.S. intellectual property holders' rights has increased, causing increasing harm to the U.S. economy, according to a report issued Aug. 13 by staffers of a joint congressional committee.

The report, “The Impact of Intellectual Property Theft on the Economy,” identifies China as a particular target of scrutiny and recommends that “[s]trengthening IP enforcement and providing more timely resolution of foreign infringement complaints can help combat IP theft.”

Sen. Bob Casey (D-Pa.), who chairs the U.S. Congress Joint Economic Committee and whose staff prepared the report, said in a statement that “Counterfeiting and piracy have become increasingly widespread, especially from China, hampering innovation and competitiveness and costing America jobs at a time when far too many are looking for work.”

The report cites data from the Customs and Border Protection service to conclude that China “accounts for the vast majority of pirated goods seized at the U.S. border.”

The report urges the Office of the U.S. Intellectual Property Enforcement Coordinator, which is drafting a new Joint Strategic Plan on Intellectual Property Enforcement, to “improve the protection of intellectual property in the United States.”

For More Information
The report can be found at: http://pub.bna.com/ptcj/IPTheftImpactSenate12August.pdf.







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