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Fifth Circuit Rejects Majority 'Independent Economic Value' Test for Infringement Damages
Section 504(c)(1) of the U.S. Copyright Act states that a "copyright owner may elect … to recover, instead of actual damages and profits, an award of statutory damages for all infringements involved in the action, with respect to any one work …." In determining the amount of a statutory award — which is based on the number of works infringed, rather than the number of times those works were infringed — "all parts of a compilation or derivative work constitute one work," the statute adds.
Most of the federal circuit courts [i.e., the D.C., First, Seventh, Ninth and Eleventh Circuits] that have addressed what qualifies either as a "compilation" or as a single creative work apply an "independent economic value" analysis that looks at the market worth of the single creation as of the time when an infringement occurs.
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Bankruptcy Sales: Finding a Diamond In the Rough
There is no efficient market for the sale of bankruptcy assets. Inefficient markets yield a transactional drag, potentially dampening the ability of debtors and trustees to maximize value for creditors. This article identifies ways in which investors may more easily discover bankruptcy asset sales.
Judge Rules Shaquille O'Neal Will Face Securities Lawsuit for Promotion, Sale of NFTs
A federal district court in Miami, FL, has ruled that former National Basketball Association star Shaquille O'Neal will have to face a lawsuit over his promotion of unregistered securities in the form of cryptocurrency tokens and that he was a "seller" of these unregistered securities.
Blockchain Domains: New Developments for Brand Owners
Blockchain domain names offer decentralized alternatives to traditional DNS-based domain names, promising enhanced security, privacy and censorship resistance. However, these benefits come with significant challenges, particularly for brand owners seeking to protect their trademarks in these new digital spaces.
Why So Many Great Lawyers Stink at Business Development and What Law Firms Are Doing About It
Why is it that those who are best skilled at advocating for others are ill-equipped at advocating for their own skills and what to do about it?
Coverage Issues Stemming from Dry Cleaner Contamination Suits
In recent years, there has been a growing number of dry cleaners claiming to be "organic," "green," or "eco-friendly." While that may be true with respect to some, many dry cleaners continue to use a cleaning method involving the use of a solvent called perchloroethylene, commonly known as perc. And, there seems to be an increasing number of lawsuits stemming from environmental problems associated with historic dry cleaning operations utilizing this chemical.