Last November, toymaker Goldiebox got into a legal spat over the use of a Beastie Boys song in a viral video. Should Goldiblox be protected under fair use? There was no clear answer, but rather than fight it out in the courts, Goldibox settled; and now thanks to an unrelated lawsuit we know for how much.
In another lawsuit, this one between the Beastie Boys and Monster Energy Drink, the parties are arguing about what is "reasonable" licensing compensation. New filings, shared by Eriq Gardner, reveal the terms of the Beastie's settlement with Goldibox:
The GoldieBlox Settlement granted GoldieBlox a retroactive license to use the musical composition of “Girls” between November 18, 2013 and November 28, 2013…. In exchange, GoldieBlox agreed to make annual payments of 1% of its gross revenue, until the total payments reached $1 million, to a charitable organization chosen by the Beastie Boys and approved by GoldieBlox which supports “science, technology, engineering and/or mathematics education for girls.” … The parties also agreed to make certain, specifically worded public statements… and to keep the settlement confidential, with certain exceptions, including its use in litigation. (via Techdirt)
Whatever your position on Fair Use, a $1 million settlement for a viral video that was up for 10 days reinforces just how broken our digital copyright system is.
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