Copyright Piracy Has Reached Alarming Level in China, India: Report

In 2012, the Caucus added Switzerland to the Watch List based primarily on the deteriorating climate for copyright in the country following the 2010 Logistep decision by the Swiss Federal Supreme Court. "The court's holding in the case rendered it virtually impossible for rights holders to bring actions against large scale peer-to-peer infringers.

There have been tentative steps to address the situation, both legislatively and through a test case to force as reconsideration of the Logistep precedent," the report said. "This Watch List reminds us of the enormous economic importance of the American copyright industries and the many jobs they create," Senator Sheldon Whitehouse.

"We should celebrate our country s continued success producing movies, music, and software, but also must protect these jobs from digital piracy and other forms of theft," he said. The American music, film, publishing and design industries comprise a significant portion of our nation s economy, said Senator Orrin Hatch.

"Unfortunately we continue to see vast amounts of content on the Internet stolen by digital thieves. The time is ripe for Congress and industry stakeholders to come together with a renewed focus to combat online piracy, he said. "If we allow people to take that work without paying for it, artists will no longer have any financial incentive to create new movies, software, video games, books and music.

The end result is the loss of billions of dollars in revenue for the U.S. each year and even greater losses to our economy in terms of reduced job growth and exports," said Congressman Bob Goodlatte.

Also Read:
Modi-Led Government To Present Maiden Union Budget On July 10
U.S. Leads in Adopting Indian Children