What Intellectual Property Theft Is and What You Can Do To Stop It

Definition

Intellectual property is any innovation, commercial or artistic; any new method or formula with economic value; or any unique name, symbol, or logo that is used commercially. Intellectual property is protected by patents on inventions; trademarks on branded devices; copyrights on music, videos, patterns, and other forms of expression; and state and federal laws.

The Crime

Stealing intellectual property is cheap and easy. All a thief has to do is copy someone else’s ideas or product. Intellectual property theft can cost people their jobs, damage the reputation of the original maker of the counterfeited product, cause sickness and bodily harm, deprive governments of desperately needed tax revenue, and even result in the spread of organized crime and gangs—which in turn can damage more lives and destroy neighborhoods. It isn’t a victimless crime.