Movie Piracy Hurts the U.S. Economy Essay Example | Topics and Well Written Essays - 750 words - 13

Movie Piracy Hurts the U.S. frugality - Essay ExampleThe estimated loss in millions because of cinema piracy cannot be substantiated it hurts the prudence because IP justification costs for firms continue increasing, brand place and sales argon lost, consumers get low-quality goods and the government continues to lose value revenue. The first way that movie piracy hurts the economy is that it results in lost sales and brand value for companies, in addition to the costs incurred for increased Intellectual Property (IP) protection. Guaranteed protection of these companies is possible when the proprietors get contain exclusive rights to the economic rewards provided by the market for creating products. According to a report released by the U.S Government duty Office in 2010, there are many negative, economic effects arising from piracy and counterfeiting on the U.S economy (3). However, based on this report, the many claims that piracy has led to the loss of many American jobs a nd the loss of millions of U.S dollars are not valid (U.S Government Accountability Office 11). It is as a result of this statement that critics designate that perhaps there are little or no negative economic effects of movie piracy on the U.S economy. Today, movie piracy is so common that a person does not needs need advanced computer skills to gain access to illegal movies. Of course, this is a move that has led to companies flavor for advanced ways of protecting their IP, which is known as costly affairs. If movie piracy was non-existent, new procure companies in the entertainment industries would not lose their creative work without getting paid for their work. Essentially, piracy of movies is array of the reason contributing to lost sales and brand value for so many movies in the U.S. The bet on way that movie piracy hurts the economy is because leads to consumers getting low-quality goods and their safety risks increase.