Google Inc (NASDAQ:GOOG) recently scored a legal victory in a book lawsuit and their win will allow Google to continue scanning books on their website. A federal judge in New York dismissed the class-action lawsuit from The Authors Guild, which initially started the lawsuit in 2005.
Google scanned over 20 million books
The Authors Guild claimed that Google Inc (NASDAQ:GOOG) violated fair use of copyrighted books by providing snippets of the books. The guild was seeking $750 for each copyrighted book that was made digital which would cost Google a lot considering the search giant scanned over 20 million books.
Canyon Distressed Opportunity Fund likes the backdrop for credit
The Canyon Distressed Opportunity Fund III held its final closing on Jan. 1 with total commitments of $1.46 billion, calling half of its capital commitments so far. Canyon has about $26 billion in assets under management now. Q4 2020 hedge fund letters, conferences and more Positive backdrop for credit funds In their fourth-quarter letter to Read More
A law professor from the University of Notre Dame said, “This is a huge victory for Google Inc (NASDAQ:GOOG), which had previously tried to resolve legal issues regarding Google Books by class-action settlement.”
He wasn’t the only legal professional to share his two sense on the case.
Circuit Judge Denny Chin added that Google’s book scanning project isn’t a bad thing. He explained, “”Google’s use of copyrighted works is highly transformative. Words in books are being used in a way they have not been used before.”
Google is pleased with the ruling
Although the Authors Guild has yet to share a statement on their behalf, Google Inc (NASDAQ:GOOG) is pleased with the ruling. The search giant said in a statement, “This has been a long road, and we are absolutely delighted with today’s judgement. As we have long said, Google Books is in compliance with copyright law and acts like a card catalog for the digital age, giving users the ability to find books to buy or borrow.”
Google Inc (NASDAQ:GOOG)’s library offers a portal of information that’s useful to everyone who is looking for valuable information. And it’s really not much different than going to a library or book store to do your research. Google’s library does make it easy to purchase eBooks online and that’s a great thing for publishers.