MP3 to Pay Seagram.Seagram's Universal Music Group won a $53 million infringement judgment against the controversial Internet company MP3.com Inc. The judgment is about half the $100 million in damages that the world's largest record corporation expected to collect after a federal court ruled in September that MP3.com had willfully willfully adv. referring to doing something intentionally, purposefully and stubbornly. Examples: "He drove the car willfully into the crowd on the sidewalk." "She willfully left the dangerous substances on the property." (See: willful) violated copyright laws. At the time, MP3.com said it would go bankrupt if forced to pay more than $50 million to resolve the case. The judgment brings to more than $160 million the amount that MP3.com must pay out to resolve copyright litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. filed by the record industry. The company also has committed to pay significant licensing fees on an annual basis. For MP3.com, the judgment staves off bankruptcy proceedings bankruptcy proceedings n. the bankruptcy procedure is: a) filing a petition (voluntary or involuntary) to declare a debtor person or business bankrupt, or, under Chapter 11 or 13, to allow reorganization or refinancing under a plan to meet the debts of the party , assuming the company can resolve a handful of other pending suits by music publishers and independent labels. It also gives the upstart a second chance to launch its My.MP3.com locker service, which allows users to store songs from personal CDs and access them via the Internet. During the negotiations with MP3.com, Universal also obtained a promise from the company for tighter security precautions precautions Infectious disease The constellation of activities intended to minimize exposure to an infectious agent; precautions imply that the isolation of an infected Pt is optional, but not mandatory. , as well as the option to buy about 5 percent ownership in the San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. firm. Universal has promised to share half of the legal award with the artists on its labels whose copyrights were violated by MP3.com. |
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