Criminal Copyright Improvement Act of 1997

Criminal Copyright Improvement Act of 1997 - Amends Federal copyright law to define "financial gain" to include the receipt of anything of value, including the receipt of other copyrighted works.

Sets penalties for willfully infringing a copyright by reproducing or distributing, including by electronic means, during any 180-day period, ten or more copies of one or more copyrighted works where such works or copies have a total retail value of $5,000 or more.

Extends the statute of limitations for criminal copyright infringement from three to five years.

Revises Federal criminal code provisions regarding criminal copyright infringement to provide for a fine and up to five years' imprisonment for infringing a copyright for purposes of commercial advantage or private financial gain, by reproducing or distributing, including by electronic means, during any 180-day period, at least ten copies or phonorecords of one or more copyrighted works which have a total retail value of more than $5,000.

Provides for: (1) up to three years' imprisonment and fines in any other such infringement case (without commercial gain intent), based on the retail value of the works; and (2) up to six years' imprisonment and a fine for a second or subsequent felony offense in such cases.

Requires, during preparation of the presentence report in cases of criminal copyright infringement, unauthorized fixation and trafficking of live musical performances, and trafficking in counterfeit goods or services, that victims of the offense be permitted to submit, and the probation officer receive, a victim impact statement that identifies the victim and the extent and scope of the victim's injury and loss, including the estimated economic impact of the offense on that victim.

Directs the U.S. Sentencing Commission to ensure that the applicable guideline range for a defendant convicted of a crime against intellectual property is sufficiently stringent to deter such a crime, adequately reflects consideration of the retail value of the legitimate items that are infringed upon and the quantity of items so infringed, and takes into account more than minimal planning and other aggravating factors.