IP projections good for US biz: Glickman

MUMBAI: New legislation proposed in the US House of Representatives will crack down on intellectual property theft in the US and abroad. Motion Picture Association of America, Inc. Chairman and CEO Dan Glickman thanked the bill’s sponsors for their leadership in the fight to protect America’s businesses, workers and consumers.

The MPAA serves as the film industry’s primary agency for combating copyright theft.

“Intellectual property fuels the US economy and stronger enforcement measures are needed to protect the many American business sectors and American workers that depend on it. In the motion picture industry alone, film theft costs foreign and domestic distributors, retailers and others $18 billion a year, not to mention the loss of more than 100,000 America jobs,” Glickman said.

The “Prioritizing Resources and Organization of Intellectual Property Act of 2007” strengthens civil and criminal intellectual property laws, ensures that federal law enforcement will have much needed resources, creates an office of intellectual property within the White House, and adds new international enforcement representatives around the world. This bill comes on the heels of similar copyright enforcement legislation proposed in the Senate.

“I believe that the American business community can speak in one voice today in support of these legislative efforts to protect intellectual property. From counterfeit medicine and fake automobile parts to pirated movies and knockoff handbags, the ill-effects of intellectual property theft are felt across many sectors of the US economy. I am pleased to see a concerted effort by Congress to address this growing problem, and the MPAA looks forward to working with congressional leaders in the weeks to come,” Glickman added.