The following is an article, published to give readers a general understanding of the issue:
From the article:
"If the Orphan Works legislation passes, you and I and all creatives will lose virtually all the rights to not only our future work but to everything we've created over the past 34 years, unless we register it with the new, untested and privately run (by the friends and cronies of the U.S. government) registries. Even then, there is no guarantee that someone wishing to steal your personal creations won't successfully call your work an orphan work, and then legally use it for free.
In short, if Congress passes this law, YOU WILL LOSE THE RIGHT TO MAKE MONEY FROM YOUR OWN CREATIONS! "