Small Businesses the Backbone of Americans

Intellectual property, be it copyright, trademarks, patents, industrial design rights or other property, is an increasingly valuable part of our national economy.  Unfortunately, this type of property is ripe for theft by those who would loot the American economy for their own benefit.

According a November 3, 2012 Star Tribune article, “The Federal Bureau of Investigation says counterfeiting costs U.S. companies billions of dollars in lost revenues each year. And the smaller the business, the bigger the threat.”  With the current uncertainties in today’s economy, there is not much if any room for small businesses to be under attack.

In many ways, intellectual property theft is becoming more prevalent. July 21, 2011 Washington Technology released an article stating that, “the U.S. Trade Representative (USTR) tabulates the cost of intellectual property theft at about $250 billion annually to American businesses and citizens.” According the FBI’s website this is problem that is growing and not going away.

During this time of economic uncertainty, it is imperative we encourage Congress to support local businesses and investigate the best methods of reducing instances of intellectual property theft.  The American economy can ill afford to be drained any more.

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