Press release: “In an effort to strengthen laws protecting creative and intellectual property, leaders of the House Judiciary Committee today introduced bipartisan legislation to improve federal agency enforcement efforts and provide more resources to those efforts. House Judiciary Committee Chairman John Conyers, Jr. (D-MI), Ranking Member Lamar Smith (R-TX), Subcommittee on Courts, the Internet and Intellectual Property Chairman Howard Berman (D-CA), and Reps. Adam Schiff (D-CA), Tom Feeney (R-FL), Darrell Issa (R-CA), Steve Chabot (R-OH), Steve Cohen (D-TN), Ric Keller (R-FL), Sheila Jackson-Lee (D-TX), Bob Goodlatte (R-VA), and Robert Wexler (D-FL) introduced the “Prioritizing Resources and Organization for Intellectual Property (“PRO IP”) Act of 2007″ to combat what they say is an increasing problem…The bipartisan PRO IP bill is supported by both labor unions and industry groups because of the increasing global economic cost of counterfeiting and piracy – which is currently between $500 and $600 billion/year in lost sales and approximately 5% – 7% of global trade. It costs the United States between $200 and $250 billion/year in lost sales, including 750,000 jobs.”