LimeWire Settles with Record Companies for US$105 Million

Friday, May 13th, 2011
LimeWire, through its founder Mark Gorton, and four big-time record labels have agreed on a settlement worth US$105 million. This comes after a U.S. District Judge found the P2P sharing company liable for copyright infringement due to mass piracy of recorded music in a span of 10 years. $105 million may sound like a huge amount, but that is actually a fraction compared to the $75 trillion that the Recording Indust

Record Companies Demand LimeWire to Pay $75 Trillion for Damages

Friday, March 25th, 2011
The recording companies suing the file sharing website LimeWire estimated that the amount the site should pay for damage is between US$400 billion and $75 trillion. That amount is more than the GDP of all countries in the world. Such demands are nothing new to the recording industry, who feel that their sales slump is caused by rampant illegal downloads. The RIAA has also sued a mother of four from Minnesota for