In October, the federal government, with strong bipartisan support, reorganized its strategy and expanded the resources available to protect the nation’s intellectual property with the enactment of the Prioritizing Resources and Organization for Intellectual Property Act, known as the PRO-IP Act, 15 U.S.C 8101. The legislation was formulated in response to the “billions of dollars in lost revenue for United States companies each year [caused by the theft of intellectual property] and even greater losses to the United States economy in terms of reduced job growth, exports, and competitiveness” and the concern that organized crime and terrorist groups “utilize piracy, counterfeiting, and infringement to fund some of their activities.” P.L. 110-403, § 503. This article will describe the major innovations created in the act and discuss its implications for businesses with valuable IP assets.
The Pro-IP Act accomplishes three congressional goals. First, it coordinates the federal government’s resources to protect copyrights, patents, trademarks, trade secrets and computer data through the newly created position of intellectual property enforcement coordinator (IPEC) to be appointed by the president and confirmed by the Senate. Second, it provides increased funding to the Department of Justice (DOJ), the Federal Bureau of Investigation (FBI) and local law enforcement to investigate and prosecute IP thieves. And third, it significantly increases civil and criminal penalties for stealing IP.
