Nonetheless, based on the impact of pirating music, movies, and software, piracy can be considered as theft. The illegal copying and distribution of illegitimately copied material has huge financial impacts on the worldwide economy. As the rate of piracy continues to increase across the world, this practice continues to cost the global economy in billions of dollars. Piracy contributes to lost tax revenues that would be beneficial to local communities as hundreds of thousands of jobs in various industries are lost. The huge financial impact is also attributed to the fact that huge amounts are spent on dealing with this practice while it hinders innovation, research, and development. Therefore, piracy tends to hurt everyone i.e. manufacturers, consumers, employees, and many other business segments or people.

Piracy is theft because the main purpose of copyright is to incentivize the manufacture of creative works and materials (Kain, 2012). The increase in online...
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