In this article, we discuss two very different copyright
matters. The first deals with the fact that the finance industry is
suddenly showing a great deal of interest in music copyright. The
second deals with the illegal sale of a single CD. Yet, both
stories highlight some important aspects of copyright law.
COPYRIGHT AND THE FINANCE INDUSTRY
Selling future royalties
For some time there have been reports of music catalogues being
sold – a while back David Bowie's estate sold his music
catalogue to Warner Music for USD250-million, whereas more recently
Bruce Springsteen sold his music catalogue to Sony Music for some
USD500-million. The attraction of such a sale to the seller is
obvious – the musician (or his or her heirs) receives a large
lump sum, the sort that would allow for a very comfortable
retirement. As for the buyer, well it clearly takes a calculated
risk, betting that over time the copyright will bring in far more
than the purchase price.