Intellectual Property Rights Act of 2008: Increased Penalties for Counterfeiting

Intellectual Property Rights Act of 2008: What Does it Mean?

The Enforcement of Intellectual Property Rights Act of 2008 was introduced in the Senate last week.

The law would increase penalties for counterfeiting, with damages as high as $2 million for “willful” trademark violations, empower federal prosecutors to bring civil suits against copyright infringers, provide for the seizure of property used to violate copyrights and trademarks.

The law allows the President to appoint an Intellectual Property Enforcement Coordinator (or “copyright czar”), who would develop a “joint strategic plan” to harmonize the IP enforcement efforts of diverse federal agencies, including the Department of Justice, Patent Office, State Department, and Department of Homeland Security.

The Domains is correct. With phishing and trademark issues continuing to attract attention, increased enforcement and new laws seem inevitable. Technorati Tags: Intellectual Property Rights Act, trademark, IP, counterfeit