SOPA, PIPA, the OPEN Act: Where is This Going?

When Wikipedia, Reddit and others engaged in a 24-hour Internet blackout on January 18, 2012, the public definitely took notice. What is the problem that SOPA and PIPA are attempting to address? Why do media companies feel that current legislation (notably the Digital Millennium Copyright Act) is inadequate to address copyright infringement and online piracy? Why does the tech sector feel that these acts threaten the heart of the Internet? This paper will review the issues and the current status of the legislation, both in the United States and in the European Union.