President Bush recently signed legislation that will aim to help manufacturers with intellectual property rights.
The Air-Conditioning, Heating and Refrigeration Institute reports
that the Prioritizing Resources and Organization for Intellectual Property Act creates
tougher civil and criminal laws against counterfeiting and piracy. The
institute also says that the new law will provide greater enforcement of
intellectual property violations.
The new bill will also study the impact that intellectual
property violations have on U.S. manufacturers. Officials with AHRI said that the
study would cover the impact of imported and domestic counterfeit goods on the
U.S. manufacturing industry, as well as suggested changes that will help
According to statistics from the U.S. Chamber of
Commerce, intellectual property in the United States totals more than $5
trillion or 40 percent of U.S. economic growth.
Property rights bill signed into law
November 14, 2008