Protect IP (Preventing Real Online Threats to Economic Creativity and Theft of Intellectual Property Act of 2011) is a bill that is under discussions now in the US Congress. If passed it would give government and corporations (copyright holders) permission to censor the internet in order to protect the intellectual property rights. If they could prove that a particular website was 'dedicated to copyright infringement' then the American judge would be able to censor that website, even if it was registered outside the US. How it works further you may see on this video:
PROTECT IP / SOPA Breaks The Internet from Fight for the Future on Vimeo.
The vote in the Senate is scheduled for January 24, 2012. The result of this vote may influence also European business and consumers since it is difficult to perceive any such internet content control measures as national only.