Goole’s rainy day fund
Posted by Allie Judson on November 16, 2006 at 3:19 PM
Tuesday Google announced that they will be setting aside $200 million for future content and copyright related lawsuits and settlements because of the $1.65 billion purchase of YouTube.
Experts following the Google and YouTube deal predicted that Google would be under fire by companies who felt that the website’s video uploading violated their copyrights. Internet rumors of different amounts of rainy day funds have been surfacing for weeks but all amounts have denied until now.
After recent problems with local YouTube users, the multi-billion dollar company seems to be having problems with local users and big companies alike. “We look forward to working with content creators and owners large and small to harness the power of the Internet to promote, distribute and monetise their content,” Said Eric Schmidt, Google’s chief executive.
And to add more problems, the company’s very own Google Video Service is being sued for copyright infringement. Aside from the rainy day fund, Google takes down all illegal content brought to their attention by copyright holders and hopes to install new technology to scan for and block copyrighted materials from their sites.
Source:Financial Times
After recent problems with local YouTube users, the multi-billion dollar company seems to be having problems with local users and big companies alike. “We look forward to working with content creators and owners large and small to harness the power of the Internet to promote, distribute and monetise their content,” Said Eric Schmidt, Google’s chief executive.
And to add more problems, the company’s very own Google Video Service is being sued for copyright infringement. Aside from the rainy day fund, Google takes down all illegal content brought to their attention by copyright holders and hopes to install new technology to scan for and block copyrighted materials from their sites.
Source:Financial Times
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