President Bush has signed a controversial new bill which aims to strengthen anti-piracy efforts in the United States and create greater penalties for copyright infringement. The law also creates an intellectual property czar who will report directly to the president on how to better protect copyrights both domestically and internationally.

The bill had been supported by both the music industry's RIAA and the movie industry's MPAA. Along with increased penalties, the bill allows for asset forfeiture. This already exists in drug laws, and allows the government to seize assets.

You can find out more on the bill here.