Chamber of Commerce Pledges Campaign Against IP Theft

The US Chamber of Commerce will advance its “unprecedented” global initiative to fight intellectual property theft, CEO Thomas Donohue told a press gathering Wed. Under National Chamber Foundation leadership, the Chamber will build on efforts that began in 2004 to abate the rising tide of IP theft, Donohue said. “These crimes not only cost American business an estimated $250 billion a year, they threaten the health and safety of our people,” he said.

As part of its efforts in 2005, the Chamber will advocate legislation that toughens penalties for counterfeiting and piracy, according to a draft copy of the Chamber’s “State of American Business 2005” report. The Chamber will press the Homeland Security Dept. to “dramatically” increase interdiction of bogus products and help the Justice Dept. carry out recommendations from its recent IP report that called for expanded law enforcement and more prosecutions of IP theft.

Donohue said IP theft was becoming a more serious problem that’s beginning to get more attention from business. Knock- off goods were once seen as a nuisance, but the economic effect eventually “became a serious number.” While the cost to U.S. companies is at least as high as $250 billion per year, he said, that could rise to $1 trillion. One of the campaign’s major initiatives will be an education campaign for business, the media and lawmakers. Donohue said the Chamber is focusing a “significant amount of money” on the project.