7 Wake Forest Intell. Prop. L.J. 209
Intellectual property theft costs the United States hundreds of billions of dollars each year. This article analyzes the problem of global intellectual property theft in its various forms, and the effect of theft of this valuable resource on industries and the economy of the United States. The article focuses specifically on IP theft by China and Russia, two of the United States’ largest sources of intellectual property theft. After laying the foundation for the problem of IP theft, this article addresses the international response to the burgeoning problem with particular emphasis on World Trade Organization dispute resolution and the Agreement on Trade Related Aspects of Intellectual Property or TRIPS Agreement. The article then addresses the findings of the 2006 Special 301 Report and the CAFTA-DR agreement in light of the international community’s responses to growing IP theft. The article concludes by examining recent Congressional initiatives to combat global intellectual property theft and commenting on the future implications of these measures.