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Speaker 1: And now it is time for the daily Bloomberg Lab Brief,
Speaker 1: exploring legal issues in the news. And Today, Bloomberg Law
Speaker 1: host Doing Grosso discusses why former Beatle Paul McCartney is
Speaker 1: suing Sony for refusing to give him back the rights
Speaker 1: to some of his music. She speaks with Terence Ross,
Speaker 1: a partner at Kaden Mutchen Rosenman Terry explain how copyright
Speaker 1: termination works. Essentially, there was this notion when we redid
Speaker 1: the copyright laws in ninety six. UM, this popular notion
Speaker 1: that big companies, recording companies, publishing houses, movie studios were
Speaker 1: taking advantage of the creators of works, and especially when
Speaker 1: they were young and they were new uh in their fields,
Speaker 1: and that they were obtaining the rights to the copyrights
Speaker 1: to their work um for relatively little money. UM. I
Speaker 1: don't know if there was ever any actual evidence to
Speaker 1: support that, but we put into the Copyright Act um
Speaker 1: two provisions that allowed these creators of works to at
Speaker 1: a future date terminate assignments of the copyrights that they
Speaker 1: had given away UM in an effort to re monetize
Speaker 1: UM the value of those works. And if they had
Speaker 1: passed away in the interim, that right to terminate UM
Speaker 1: was passed along to their heirs, whether these spouse or
Speaker 1: children or grandchildren. So McCartney's lawyers started sending notices to
Speaker 1: Sony in two thousand and eight stating he's desire to
Speaker 1: reclaim the copyright. Sony declined to do so. Why would
Speaker 1: Sony agree to that without a court sight, Because it
Speaker 1: is so complicated to comply with the regular regulations that
Speaker 1: I allow you to terminate. It would be a mistake,
Speaker 1: in my view on Sony's part um to ever agree
Speaker 1: that they were done properly, because there is always the
Speaker 1: risk that McCartney will have botched the termination procedures and
Speaker 1: therefore Sony will get to keep the rights. And as
Speaker 1: Terence Ross, a partner at kden Muchen Rosenman, speaking with
Speaker 1: Bloomberg Law host Jun Grasso. You can listen to Bloomberg
Speaker 1: Law weekdays at one pm. Wall Street time here on
Speaker 1: Bloomberg Radio. And that's this morning's Bloomberg Law Brief. You
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Speaker 1: exceptional legal research and business development tools there as well.
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