"Protecting job-creating intellectual property abroad is a critical part of our relationships with other countries," Mark Esper, executive VP of the Chamber's Global Intellectual Property Center, said in a statement released Monday. "This particular proposal recognizes that dedicated officials and resources are necessary for effective IP protection and enforcement, and we are committed to seeing this measure become law."
The Chamber said that the U.S. IP market employs almost 18 million people and generates more than half of all American exports. The World Customs Organization reports that IP theft causes the loss of $500 billion to $600 billion in annual revenue worldwide.
"We applaud Chairman Berman and his committee's efforts to tackle job-destroying IP theft by putting more focus on the international roots of these crimes against the rights of American innovators and creators," Esper said.
The Chamber represents more than 3 million businesses. Its Global Intellectual Property Center works worldwide to promote and protect IP.
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