CCIA report: Fair use generates $4.7 trillion in revenue

Companies that rely on fair use generate $4.7 trillion in revenue, according to a study released by the Computer & Communications Industry Association. That's about a quarter of the U.S. economic growth. The report concludes that fair use -- an exception to the copyright law that allows limited use of copyrighted materials -- is crucial to new innovation. CCIA came out with the study a day after Intellectual Property Day, during which content companies, including Hollywood and music studios, said more protections against piracy are needed.