After lot of protest against SOPA/PIPA by internet giants Stop Online Piracy Act has been pulled by its proposer Lamar Smith. According to the statement released by Smith, he has heard a lot from critics and while piracy needed to be stopped online but in a different way and the bill needed to be revised.
He said, “The problem of online piracy is too big to ignore. American intellectual property industries provide 19 million high-paying jobs and account for more than 60 percent of U.S. exports. The theft of America’s intellectual property costs the U.S. economy more than $100 billion annually and results in the loss of thousands of American jobs. Congress cannot stand by and do nothing while American innovators and job creators are under attack.”
He further stated, “We welcome input from all organizations and individuals who have an honest difference of opinion about how best to address this widespread problem. The Committee remains committed to finding a solution to the problem of online piracy that protects American intellectual property and innovation.”
This news might bring some relief to many online sharing sites. Even many congress leaders has backed up from SOPA bill after seeing the worldwide protest against it.