US creates task force to crack down on IP crime

The US Justice Department announced the formation of a task force on Friday to crack down on intellectual property crime.

"The rise in intellectual property crime in the United States and abroad threatens not only our public safety but also our economic wellbeing," US Attorney General Eric Holder said in a statement.

"The Department of Justice must confront this threat with a strong and coordinated response," Holder said.

"This task force will allow us to identify and implement a multi-faceted strategy with our federal, state and international partners to effectively combat this type of crime," he said.

The task force will coordinate IP enforcement efforts at the Justice Department, with international partners and with the office of the newly created Intellectual Property Enforcement Coordinator.

Former president George W. Bush created the position of "IP czar" in an October 2008 bill which also tightened civil and criminal intellectual property laws.

The bill provided the Justice Department and FBI with more resources to fight IP crimes, which are estimated to cost US businesses as much as 250 billion dollars a year.