WEBVTT - Bloomberg Law Brief: Paul McCartney Sues Sony (Audio)

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<v Speaker 1>The Bloomberg Lab Brief is brought to you by American

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<v Speaker 1>Arbitration Association. Business disputes are inevitable, resolve faster with the

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<v Speaker 1>American Arbitration Association, the global leader in alternative dispute resolution

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<v Speaker 1>for over ninety years. And we're at a dr dot org.

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<v Speaker 1>And now it is time for the daily Bloomberg Lab Brief,

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<v Speaker 1>exploring legal issues in the news. And Today, Bloomberg Law

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<v Speaker 1>host Doing Grosso discusses why former Beatle Paul McCartney is

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<v Speaker 1>suing Sony for refusing to give him back the rights

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<v Speaker 1>to some of his music. She speaks with Terence Ross,

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<v Speaker 1>a partner at Kaden Mutchen Rosenman Terry explain how copyright

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<v Speaker 1>termination works. Essentially, there was this notion when we redid

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<v Speaker 1>the copyright laws in ninety six. UM, this popular notion

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<v Speaker 1>that big companies, recording companies, publishing houses, movie studios were

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<v Speaker 1>taking advantage of the creators of works, and especially when

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<v Speaker 1>they were young and they were new uh in their fields,

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<v Speaker 1>and that they were obtaining the rights to the copyrights

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<v Speaker 1>to their work um for relatively little money. UM. I

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<v Speaker 1>don't know if there was ever any actual evidence to

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<v Speaker 1>support that, but we put into the Copyright Act um

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<v Speaker 1>two provisions that allowed these creators of works to at

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<v Speaker 1>a future date terminate assignments of the copyrights that they

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<v Speaker 1>had given away UM in an effort to re monetize

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<v Speaker 1>UM the value of those works. And if they had

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<v Speaker 1>passed away in the interim, that right to terminate UM

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<v Speaker 1>was passed along to their heirs, whether these spouse or

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<v Speaker 1>children or grandchildren. So McCartney's lawyers started sending notices to

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<v Speaker 1>Sony in two thousand and eight stating he's desire to

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<v Speaker 1>reclaim the copyright. Sony declined to do so. Why would

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<v Speaker 1>Sony agree to that without a court sight, Because it

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<v Speaker 1>is so complicated to comply with the regular regulations that

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<v Speaker 1>I allow you to terminate. It would be a mistake,

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<v Speaker 1>in my view on Sony's part um to ever agree

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<v Speaker 1>that they were done properly, because there is always the

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<v Speaker 1>risk that McCartney will have botched the termination procedures and

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<v Speaker 1>therefore Sony will get to keep the rights. And as

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<v Speaker 1>Terence Ross, a partner at kden Muchen Rosenman, speaking with

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<v Speaker 1>Bloomberg Law host Jun Grasso. You can listen to Bloomberg

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<v Speaker 1>Law weekdays at one pm. Wall Street time here on

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<v Speaker 1>Bloomberg Radio. And that's this morning's Bloomberg Law Brief. You

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<v Speaker 1>can find more legal news at Bloomberg law dot com

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<v Speaker 1>and Bloomberg b n A dot com. Attorneys will find

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<v Speaker 1>exceptional legal research and business development tools there as well.

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<v Speaker 1>Visit Bloomberg law dot com and Bloomberg b NA dot

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<v Speaker 1>com for more information