GOODLATTE INTRODUCES LEGISLATION TO PROTECT AMERICAN JOBS
Congressman Bob Goodlatte, Chairman of the Intellectual Property, Competition, and the Internet Subcommittee, joined Judiciary Committee Chairman Lamar Smith (R-TX) in introducing the bipartisan Stop Online Piracy Act which modernizes our criminal and civil statutes to meet new intellectual property enforcement challenges and protects American jobs.
It is tempting to think of crimes involving counterfeiting and piracy, or intellectual property (IP) theft, as victimless, but this is simply untrue. Piracy denies individuals who have invested in the creation and production of these goods a return on their investment thus reducing the incentive to invest in innovative products and new creative works. The end result is the loss of American jobs. Estimates indicate that IP theft costs the U.S. economy over $100 billion a year and results in the loss of thousands of American jobs. Counterfeit car brakes and infant formula that are found on rogue websites can kill innocent and unknowing consumers. These rogue sites often appear to be the real website but in actuality they sell pirated goods.
“Intellectual property is one of America’s chief job creators and competitive advantages in the global marketplace, yet American inventors, authors, and entrepreneurs have been forced to stand by and watch as their works are stolen by foreign infringers beyond the reach of current U.S. laws,” said Rep. Goodlatte. “This legislation will update the laws to ensure that the economic incentives our Framers enshrined in the Constitution over 220 years ago - to encourage new writings, research, products and services - remain effective in the 21st Century’s global marketplace, which will create more American jobs.”
The Stop Online Piracy Act combats the illegal distribution of counterfeit goods through the internet and improves coordination between IP enforcement agencies in the U.S. It also protects consumers from dangerous counterfeit products, such as fake drugs, military equipment, automobile parts and infant formula.
The House Judiciary Committee, on which Congressman Goodlatte serves as a senior member, will hold a hearing on the Stop Online Piracy Act on November 16, 2011.