From the press release:
The Working Group developing IEEE P1817TM, a new Standard for Consumer-Ownable Digital Personal Property, is currently being formed. It will hold its first meeting next month in Santa Clara, California. Any interested parties are invited to join and participate.The IEEE P1817TM is a standard for the creation, distribution, and perpetual consumer-ownership of downloadable items of copyrighted works such as movies, music, books, and games. The standard specifies the required behavior of online and device-embedded services, and of content player devices and applications.
I don't see a point in the working group. By any practical measure the concept is unworkable. It will either be strict enough that the consumer gets screwed, or loose enough that it can be broken. And then there is the analog loophole, which makes the act of encrypting with DRM pointless.
I think the following poem just about sums up all the pro-DRM arguments:
DRM Prohibition is an awful flop.
We like it.
It's left a trail of graft and slime,
it doesn't prohibit worth a dime,
it's filled our land with vice and crime.
Nevertheless, we're for it.