RIAA Says LimeWire Owes it $72 Trillion, page 1


Pages: <<  1    2    3    4  >>
ATS Members have flagged this thread 27 times
Topic started on 24-5-2012 @ 10:53 AM by Maxmars

RIAA Says LimeWire Owes it $72 Trillion


www.geeknewscentral.com
Around four years ago, the Recording Industry Association of America (RIAA) filed a lawsuit against LimeWire. The RIAA was suing on behalf of several music labels. In short, the RIAA claimed that LimeWire’s P2P software, which allowed people to download and distribute copyrighted songs for free, caused the music industry to lose millions of dollars. The RIAA won that case. All that was left was to figure out how much LimeWire now owed the RIAA as a result.
(visit the link for the full news article)


Related News Links:
www.computerworld.com


reply posted on 24-5-2012 @ 11:04 AM by Maxmars
reply to post by theclutch



According to the source, they estimate that the total wealth of the planet is around $60 trillion. (But as a conspiracy theorist I can debate that as a gross underestimation based on a narrow definition of "wealth.")


reply posted on 24-5-2012 @ 11:05 AM by Chrisfishenstein
reply to post by Maxmars



I hope Limewire doesn't pass that down to their users....lol

I would owe a good portion of that.....

I agree though, why should music be free?? Not like the record labels or artists make any money at all.....

They are sent to the poor house after people download their stuff for free....


reply posted on 24-5-2012 @ 11:08 AM by Skywatcher2011
reply to post by Maxmars



LimeWire’s P2P software, which allowed people to download and distribute copyrighted songs for free, caused the music industry to lose millions of dollars.


My question is that if it caused the music industry to lose millions, why are they being sued for trillions? Either they are asking for punitive damages, or it makes no sense at all.


reply posted on 24-5-2012 @ 11:14 AM by BigBruddah
reply to post by Maxmars


I thought it was 72Billion when I read the title, but wow they are pretty stupid to be seeking 72 Trillion... Thats what like $10000 per person in the entire world or something? Good luck to them getting there 'damages'...


reply posted on 24-5-2012 @ 11:16 AM by Maxmars
reply to post by Skywatcher2011



According to statute - a fine of up to $150,000 per infringement is possible... since RIAA cited 11,000 songs it "owns" (via it's association members)... and the number of times each may have been downloaded (which can never be proved - only asserted by statistics) the $72 Trillion is a "possible" amount. It will more likely be a billion dollars.... which would kill Limewire just as effectively.
edit on 24-5-2012 by Maxmars because: (no reason given)




reply posted on 24-5-2012 @ 11:22 AM by Skywatcher2011
reply to post by Maxmars



Okay, so if the music industry lost millions of dollars, why would they be sued for billion(s) of dollars? Again, punitive damages?
Pages: <<  1    2    3    4  >>    ^^TOP^^



Israel angered over IAEA vote on nuclear arsenal
  Posted 13 days ago with 79 member flags
Neil Armstrong dead at age 82 - report
  Posted 17 days ago with 63 member flags
Judge orders release of detained Marine veteran
  Posted 19 days ago with 58 member flags
Birds hold \'funerals\' for dead
  Posted 10 days ago with 55 member flags
TSA agents swarm Ron Paul\'s plane, demand explosives check
  Posted 11 days ago with 47 member flags
Mysterious Changes in Ocean Salt Spur NASA Expedition
  Posted 1 days ago with 36 member flags
Ga. Murder Case Uncovers Terror Plot by Soldiers
  Posted 15 days ago with 32 member flags