An Economic View Of The ITC's Domestic Industry

Law360, New York (June 18, 2012, 1:18 PM EDT) -- Protection of intellectual property is essential for a successful modern economy. To maximize the economic benefit, IP laws are a careful balancing act between protecting IP to encourage innovation and limiting it to foster diffusion of the innovation. Through Section 337 of the Trade Act of 1974, trade law supports the larger framework of IP law by forbidding the trade of goods that embody improperly obtained intellectual property.

 

The threshold issue for a claim under the trade law, arising from recent amendments to expand Section 337 protection to innovating but nonproducing firms, is the existence of a domestic industry. In...

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