Piracy accounts to combined loss of close to $30 billion to US based companies involved in software development, music, video games and entertainment industry. Piracy over internet has significantly risen as with evolution of Web 2.0 that effective enabled peer, torrent and data sharing through websites. The given report focus on various aspects of piracy and provide comprehensive view around process, challenges, way forward plan so that piracy can be controlled in aspect from copyright stand point (Ingram, Hinduja, 2008).Piracy not only shatter the economic trail however it do significantly impact copyright and intellectual property rights. Music industry has around 12,000 jobs lack of realization due to piracy. The IFPI (International Federation of the Phonographic Industry) put an estimate that
approximately there are twenty illegal download against single track purchased. The US motion picture piracy costs around 45,000 jobs realization while losing $6 billion due to various forms of piracy. Videogame industry detected seven hundred thousand copyright infringements across hundred countries (Zenter, 2006).
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