Post: The $75,000,000,000,000 lawsuit against LimeWire
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03-25-2011, 11:01 PM
#1
I-MilkShake-I
Gym leader
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No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
03-26-2011, 02:16 AM
#56
Grumpy
Grumpy is God.
Ok all you dumb asses the money does exist obviously I just found this:
"Paper:
The Bureau of Engraving and Printing (BEP) headquarters is located in Washington, DC. The BEP is responsible for designing and printing our paper currency. There is also a satellite production facility located in Fort Worth, Texas, which began operations in January 1991. The BEP produced approximately 37 million currency notes each day with a face value of about $696 million, and 45 percent of these notes are the $1 denomination. About 95 percent of the currency notes printed each year are used to replace notes that are already in circulation.
Coinage:
In 2000, the U.S. Mint produced approximately 28 billion coins for general circulation. These are made in the Mint facilities in Philadelphia, PA and Denver, CO. While most of the coins the Mint produces are for general circulation, the Mint also produces bullion coins and limited editions of coins sold to collectors as numismatic items. The Mint facilities in Philadelphia, PA; Denver, CO; San Francisco, CA; and West Point, NY produce numismatic items. Bullion coins are produced at the Mint facilities in San Francisco, CA and West Point, NY.
Amount in circulation:
June 30, 2000 $571,121,194,344"
"Paper:
The Bureau of Engraving and Printing (BEP) headquarters is located in Washington, DC. The BEP is responsible for designing and printing our paper currency. There is also a satellite production facility located in Fort Worth, Texas, which began operations in January 1991. The BEP produced approximately 37 million currency notes each day with a face value of about $696 million, and 45 percent of these notes are the $1 denomination. About 95 percent of the currency notes printed each year are used to replace notes that are already in circulation.
Coinage:
In 2000, the U.S. Mint produced approximately 28 billion coins for general circulation. These are made in the Mint facilities in Philadelphia, PA and Denver, CO. While most of the coins the Mint produces are for general circulation, the Mint also produces bullion coins and limited editions of coins sold to collectors as numismatic items. The Mint facilities in Philadelphia, PA; Denver, CO; San Francisco, CA; and West Point, NY produce numismatic items. Bullion coins are produced at the Mint facilities in San Francisco, CA and West Point, NY.
Amount in circulation:
June 30, 2000 $571,121,194,344"
03-26-2011, 02:20 AM
#57
TheRandomGuy128
Hates Grammar Nazis
03-26-2011, 02:34 AM
#58
Night Wolf
Rescue Me
03-26-2011, 03:20 AM
#59
nickyboy909
Bounty hunter
03-26-2011, 03:55 AM
#60
HomelandSec
League Champion
Originally posted by I
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No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
75 Trillion that is insane,That would suck if they had lost.
03-26-2011, 07:17 AM
#64
Nate
Guest
Originally posted by I
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No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
No, that is not a typo. LimeWire is being sued for more money than what physically exists as cash on the planet today. Apologies if you folks already discussed this, but perhaps one more refresher just to grasp the scope of it all:
Does $75 trillion even exist? The thirteen record companies that are suing file-sharing company Lime Wire for copyright infringement certainly thought so. When they won a summary judgment ruling last May they demanded damages that could reach this mind-boggling amount, which is more than five times the national debt.
Manhattan federal district court judge Kimba Wood, however, saw things differently. She labeled the record companies' damages request "absurd" and contrary to copyright laws in a 14-page opinion.
The record companies, which had demanded damages ranging from $400 billion to $75 trillion, had argued that Section 504(c)(1) of the Copyright Act provided for damages for each instance of infringement where two or more parties were liable. For a popular site like Lime Wire, which had thousands of users and millions of downloads, Wood held that the damage award would be staggering under this interpretation. "If plaintiffs were able to pursue a statutory damage theory predicated on the number of direct infringers per work, defendants' damages could reach into the trillions," she wrote. "As defendants note, plaintiffs are suggesting an award that is 'more money than the entire music recording industry has made since Edison's invention of the phonograph in 1877.'"
lol... R.I.P LimeWire and its founders. We will truly miss you. :cry:
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