Can anyone advise?
"Where money issues meet IP rights". This weblog looks at financial issues for intellectual property rights: securitisation and collateral, IP valuation for acquisition and balance sheet purposes, tax and R&D breaks, film and product finance, calculating quantum of damages--anything that happens where IP meets money.
Friday, 19 June 2009
What happens to all that Jammie money?
The US $1.92 million copyright infringement award in favour of the Recording Industry Association of America (see 1709 Blog here) against single mother-of-four Jammie Thomas-Rasset works out at $80,000 per infringed track. This post does not seek to replicate the comments of others but just to ask this: what happens to the $1.92m in the event that it gets paid? How transparent are RIAA's accounts? Does it simply sit in the RIAA's coffers? Or does it get allocated to a litigation enforcement fund? How much, if any, is received by the individual recording companies whose works are infringed, and how much, if any, by the creatives?
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The RIAA wasn't the plaintiff in the suit (although we colloquially call it a suit brought on behalf of the RIAA). Instead it was a suit brought by a series of labels (copyright owners) that was coordinated by the RIAA. I'd assume that the damages will be allocated amongst the plaintiffs by infringing works.
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