MMTC Backs PROTECT IP, SOPA Piracy Bills

The Minority Media & Telecommunications Council endorsed the Senate PROTECT IP ACT and House Stop Online Piracy Act. MMTC argues that the economic hit from piracy is especially hard on minority digital entrepreneurs. Because of wealth gap, those entrepreneurs seldom have extensive hard capital assets -- like real estate -- to collateralize. With the intellectual property generally the only significant asset, MMTC argues, decreasing its value makes it harder to raise capital and stay in business. MMTC said the IP theft problem is pressing, and that both the House and Senate should move quickly to pass the bills.