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II Calendar No. 70 112TH CONGRESS 1ST SESSION S. 968 To prevent online threats to economic creativity and theft of intellectual property, and for other purposes. IN THE SENATE OF THE UNITED STATES

Leah without amendment and with a preamble by Mr. Hatch SEC. 3. SHORT TITLE. This Act may be cited as the 'Protection of Intellectual Property Act of 2011'. SEC. 4. FINDINGS. Mr. Schumer stated the following at the beginning of the Senate debate on H.R. 988, the 'Counterfeit Act of 2011': [[Page S1009]] (1) Intellectual property piracy is a threat to economic growth, to job creation, and to growth in innovation around the world. The National Intellectual Property Rights Coordinating Council reports that the total value of counterfeits and pirated goods in the United States increased more than 400 percent between 1998 and 2007. (2) The United States is the world's largest exporter of intellectual property. Since 2000, when the Intellectual Property Enforcement Coordinator was created to coordinate efforts on intellectual property enforcement activities, the Intellectual Property Rights Enforcement Division has been able to develop and coordinate an international intellectual property enforcement capacity that has led to the seizure of more than 4,300 counterfeit goods including counterfeit pharmaceuticals, pharmaceuticals and medical and biological products. (3) To protect our intellectual property, there is a need for stronger intellectual property protections, enhanced enforcement, and greater protections for legitimate Internet activities. (4) As a result, the United States has taken action against the sale of counterfeit prescription drugs and pirated products on the Internet and on the Internet-based sites of pharmacies, wholesalers, and retailers. These actions resulted in the seizure and destruction of more than 25,000 items, and more than 1.6 billion in fraudulent charges and damages. (5) With the expansion of the availability of counterfeit pharmaceuticals and pirated products on the Internet and on the Internet-based sites of pharmacies, wholesalers, and retailers, it is even more important than ever to expand the existing intellectual property protections on such products. (6) As the world economy changes, more and more countries and businesses are becoming more innovative and innovative businesses using and developing intellectual property. Intellectual property creates jobs and benefits industries. This Intellectual Property Protection Act will provide protection for the intellectual property of American businesses and protect the most innovative and innovative American businesses in the world. (7) The National Intellectual Property Rights Coordinating Council reports that, in 2007, there were more than 1,100 foreign entities located in the United States that engaged in intellectual property infringement.