“Increased online theft of intellectual property has become a rampant problem,” added Senator Chuck Grassley (R-Iowa). “The impact of copyright piracy and sale of counterfeit goods imposes a huge cost on the American economy – lost jobs, lost sales, and lost income. This bill will help to protect against harmful counterfeit and pirated products that cause damage to both the economy and the health and safety of the consumer.”
Copyright holder groups like the MPAA and RIAA are obviously pleased with the news.
“It’s essential that we reign in online thieves and business models predicated on ripping off America’s songwriters, musicians and performers,” said Mitch Bainwol, RIAA Chairman. “A review of the most frequently visited web sites – including those specializing in pre-release songs that are not yet even available in the legitimate marketplace — feature banner ads for some of America’s best known companies.
The MPAA also welcomed passage of thge PROTECT IP Act.
“The Judiciary Committee took an important step today to stop theft and save jobs,” said Michael O’Leary, Executive Vice President, Government Affairs of the MPAA. “By helping shut down rogue websites that profit from stolen films, television shows, and other counterfeit goods, this legislation will protect wages and benefits for the millions of middle class workers who bring America’s creativity to life.”
Critics, however abound.
The Electronic Frontier Foundation has reminded people of the fact that it could have serious domain name system (DNS) implications.
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