Plagiarism is a serious offense in the academic community, and committing it can guarantee an automatic failing grade on an assignment. In cases of unintentional plagiarism, such as neglecting to properly cite a source, teachers may choose to address the matter on a case-by-case basis. That in mind, it is crucial that you are vigilant when citing sources and attributing ideas so that you can avoid any misunderstandings or accusations.
Plagiarizing in an academic context affects more than just your grade. Different universities implement different plagiarism policies that may or may not distinguish between varying levels of offense. For example, Rutgers University addresses different degrees of plagiarism, such as cheating and facilitating academic dishonesty. Wherever you attend school, issues of plagiarism often escalate beyond the classroom and may result in disciplinary action such as suspension from school.
Those who are caught plagiarizing material suffer lasting consequences, as they have effectively branded themselves as dishonest. Your credibility suffers near-irreparable damage when you are caught plagiarizing, and it can ruin even a good reputation. For example, in February 2010, Gerald Posner of "The Daily Beast" resigned from his post as chief investigative journalist after it was reported that he plagiarized five sentences from a Miami newspaper. The incident received national attention and Posner, the author of 11 books, saw his reputation sullied.
Those who commit plagiarism may also be subject to legal action. In certain cases, the person whose work was plagiarized may sue the plagiarist for one of several offenses, including copyright infringement. For this reason, the impact of plagiarism affects more than just your academic record or credibility as a writer -- it can land you in court, as well.