The Internet has allowed new assets to spring into existence for consideration by competent tax and estate planners. All Internet assets are intangible personal property ' they cannot be seen, felt or perceived by the ordinary senses. For tax and estate planning purposes, each Internet asset is subject to one of three different legal classes.
As more and more people take up residence in the virtual world ' sometimes also called digital or synthetic worlds ' through their participation in one of the many 'Massively Multiplayer Online Role-playing Games' (MMPORGs) currently available online, the potential for monetary abuse and malfeasance also increases. While the original virtual worlds were built by private gaming companies for their subscriber base and were fully controlled by the designers and their all-encompassing End-User Licensing Agreements (EULA), new MMPORGs have emerged that provide individual players with more freedoms ' including the ability to create, seclude or launder wealth. The likelihood of this new technology being co-opted for unscrupulous purposes is great, since historically the same has happened in response to other advances in technology.
It is fairly typical for an owner of intellectual property who has convinced an infringer to cease and desist the infringing activity to offer a retroactive license covering the period of past infringement as part of the settlement agreement. Granting a retroactive license to the direct infringer can be dangerous, however. Not only will the license forgive the direct infringement; it also will erase any possible inducement or contribution claim the patentee has against a third party. Because the retroactive license is unnecessary in most cases, before granting it a patentee should be very certain it has no inducement or contribution claims against third parties.
Copyright Infringement/Attorney Fees
Executive Compensation/Severance Pay
Film Distribution/Net Profits
Recently filed cases in entertainment law, straight from the steps of the Los Angeles Superior Court.
The Court of Appeal of California, Second Appellate District, Division Five, affirmed the disqualification of a law firm from representing plaintiffs in litigation over the late singer Eva Cassidy.
The U.S. Court of Appeals for the Ninth Circuit decided that singer Debra Laws' state right-of-publicity claim over the use of her voice in a Jennifer Lopez sound recording and music video was preempted by federal copyright law. Laws v. Sony Music Entertainment Inc.
Tax-treatment and copyright-reversion issues are among the most complicated concerns songwriters and music publishers face. This article examines a recent change in federal tax law regarding the sale of musical compositions, as well as related tax and reversion issues.
It is unquestioned that technology is becoming more complex, building on what has come before. In 1965, Gordon Moore prophesized that the number of transistors on a chip would double about every 2 years. To put this in context, in 40 years, the number of transistors on a chip has risen from mere thousands to nearly 1 billion. See www.intel.com/technology/silicon/mooreslaw/. A corollary to Moore's law is that the price will necessarily decrease each generation, putting more computing power into consumers' hands at ever-lower costs. The technologies that allow more information to be packed into an ever-smaller space at lower costs are increasingly complex.
