Judge calls music biz request for $75 trillion in Limewire damages 'absurd'
law.com
law.com
You've got to have a pretty huge set of balls to demand damages in an amount exceeding what your whole industry has made in the entire history of its existence.
http://en.wikipedia.org/wiki/List_of_companies_by_revenue
The biggest oil and gas companies add up to 3.4T$ in yearly revenue. Considering they've been going for a century at least it seems feasible that they've surpassed the 75T$ mark in total.
So if you owned a monopoly on the most lucrative industry on earth maybe you could actually pay off the music industry in 300 years or so[1]...
[1] at Exxon Mobil's 9% net profit margin - http://www.google.com/finance?q=NYSE%3AXOM
That's actual/compensatory damages. There are also punitive damages.
> You've got to have a pretty huge set of balls to demand damages in an amount exceeding what your whole industry has made in the entire history of its existence.
Not really. You just claim that they kept your biz 10x smaller than it would have been otherwise.
FWIW, Jevon's effect would probably let the music industry to make 2-5x as much as it did at its peak.
Is there a good legal precedent for asking for so much? Is it just a bartering tactic?
- Mommy, can I have a pony!
-- No, of course not!
- Then can I at least have a puppy?