This trend the content companies are showing towards attempting to threaten the investors in technologies they feel are infringing their copyrights is alarming, especially in view of the woeful state of our economy.
The last thing this country needs is to discourage potential investment in emerging technology.
Professional investors typically:
-invest only a portion of their assets, never putting their base or personal assets at risk; and
-carefully weigh the risks and rewards before investing.
If a professional investor determines that one type of investment will put his personal assets at risk, thus potentially putting him out of business entirely, because one of the company's exposures happens to be in copyright infringement due to the unsettled state of copyright law in the 21st century... he or she will decide -- guess what -- to take a pass.
Which is exactly what the cold and calculating content cartel is hoping will happen.
They can't compete in the marketplace, and they don't know how to innovate or create anything themselves, so they are trying to use litigation as a means of choking off innovation.
This should be disturbing to each and every American.
The recent complaint filed by EMI, which is not even an American company, is an outrage.
I recommend that my readers write to the White House, and to Congress, calling for legislation to prevent this abuse.
Here is my first draft of a proposed statute:
No person or entity can be subject to secondary liability for copyright infringement by a corporation or other business organization based in whole or in part upon (a) work he or she did in his or her capacity as a member of the board of directors or committee thereof, or (b) his or her having invested in any such corporation, including any oversight, monitoring, or due diligence activities in connection therewith.
It shall be a violation of this section to name any such person as a defendant in a claim.
Any person named as a defendant in a claim in violation of this provision, shall be entitled to his, her, or its attorneys fees, trebled.
This statute shall be applicable to pending actions, except that claimants shall be afforded thirty (30) days from its effective date, as a matter of right, to withdraw or abandon any claims which are or may be in violation of the statute.
Commentary & discussion:
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