The Intellectual Property Enforcement Act, sponsored by Senators Evan Bayh (D-IN) and George Voinovich (R-OH) aims to strengthen U.S, domestic and international efforts to fight the counterfeiting of U.S. products and other intellectual property violations, such as copyright piracy.
The National Association for Manufacturing (NAM) threw their weight behind this bill by issuing a statement on Feb. 8 "This theft is not only costing jobs and business opportunities, but also threatens one of our most important assets -- America's world leadership in innovation and technology," said NAM senior director for International Business Policy, Bill Primosch. Nearly 10 million American workers are employed in high-tech sectors.
The International Chamber of Commerce has reported that international trade in counterfeit products now exceeds $500 billion annually.
"The Intellectual Property Enforcement Act offers a variety of good proposals for enhancing domestic and international cooperation. The NAM would like to see Congress act on the bill in this session, " says Primosch.