The IP Crime Group, an organization focused on studying and assessing theft of intellectual property, recently reported that while IP crime continues to grow, some steps have been made to curb it.

A new report from the U.S. International Trade Commission found that Chinese counterfeit items cost American companies more than $47 billion in 2009. While both governments have discussed greater protection of American intellectual property rights and enforcement in China, the figures from 2009 further demonstrate the importance of action.

The combination of booming economic growth in China, along with the expanding focus on intellectual property, is making Chinese companies realize the importance of protecting their IP.

The Chamber of Commerce, along with entertainment industry representatives, is teaming up to convince Congress to pass the Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act.

Javier Bardem spoke his mind on the issue of film piracy at the World Intellectual Property Organization's headquarters in Geneva, Switzerland. Bardem called for the UN to draft an international treaty against film piracy.

It's not uncommon for researchers and others at academic hospitals or universities to grant intellectual property rights to their employers. For any discoveries, methods or other ideas they are responsible for, the university becomes the patent holder. However, hospitals not associated with medical schools are now requiring new employees to sign similar agreements, according to MedCityNews.com.

INSEAD, a globally recognized school of business, recently released its Global Innovation Index rankings, with Switzerland at the No. 1 spot. This year's list represented a jump from its No. 4 ranking last year.

At a recent meeting about climate change in Seattle, Washington, Microsoft founder Bill Gates claimed that the U.S. government needs to increase its investment in innovation, according to a New York Times report.

According to a recent study published by the Royal Society, the United States is the leading nation when it comes to scientific innovation.

A "proactive" approach to legal issues can help companies reduce expenses, minimize risks and protect intellectual assets, according to industry expert George Siedel.