US stocks anti-piracy war chest

By James Barnes

04 October 2012 at 10:32 BST

More than $2.4 million will be allocated to 13 US jurisdictions to fight theft of intellectual property, after Attorney General Eric Holder stressed that protection from piracy is vital to the nation's economy.

According to a report from’s Corporate Counsel magazine, the Department of Justice said the funds will be used to enforce, investigate, prosecute and prevent intellectual property crimes.

Critical time

Mr Holder said: ‘These new investments are coming at a critical time. As our country continues to recover from once-in-a-generation economic challenges, the need to defend IP rights—and to protect Americans from IP theft—has never been more urgent.’
Over the last three years the US Justice Department has granted more than $10m to 34 law enforcement agencies in the war against IP theft. The new cash injection is aimed primarily at creating new police department positions with specific IP investigation focus. Enforcement and prosecutor training schemes will also be developed.
‘IP theft is not a victimless crime,’ Mr Holder added. ‘It can devastate lives and business as well as undermine our nation’s financial stability, jeopardise the health of our citizens, and even threaten our national security.’


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