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January 30, 2012

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Content Industries and Sharman Networks Settle All Global Litigation

SYDNEY – Sharman Networks Ltd. announced today that an historic turning point has been reached for both technology and content industries...

SYDNEY – Sharman Networks Ltd. announced today that an historic turning point has been reached for both technology and content industries with the global settlement of the Metro-Goldwyn-Mayer Studios Inc, et al., v. Grokster, Ltd and the Universal Music Australia Pty Ltd & Ors v. Sharman License Holdings Ltd & Ors copyright cases.

The global settlement of all legal disputes between Sharman, which owns and distributes the Kazaa peer-to-peer (P2P) software application, and the major entertainment content providers and trade groups, clears the way to enable distribution of the broadest range of licensed content over Kazaa.

“This settlement marks the dawn of a new age of cooperation between P2P technology and content industries which will promise an exciting future for online distribution in general and Kazaa users in particular,” said Nikki Hemming, CEO of Sharman Networks.

“It has been our long standing goal for Kazaa to play a significant role in the growing market for licensed online distribution and authorised exchange of copyrighted content using peer-to-peer technology, and this settlement ensures that we will be working together with the content providers to the benefit of consumers, businesses and artists,” said Hemming.

All the parties involved now recognize the time is right to work together, and we are looking forward to collaborating with the music and motion picture companies to make P2P an integral part of the future of online digital entertainment,” said Hemming.

About Sharman Networks:
Sharman Networks Ltd. distributes the popular Kazaa software, a leading peer-to-peer application that allows users to search, download, organize and interact with a variety of file types. Founded in 2002, Sharman Networks is a private company committed to distributing computing software applications that are pioneering the digital revolution. Sharman Networks is a worldwide operation. For more information about Sharman Networks, please visit sharmannetworks.com.

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Consumer Law Terms

Today's Terms

Health Consumer Bill of Rights

Definition:
Was developed by the federal government. This has been used as a foundation for many health plans, including the federal government sponsored health plans. Health care consumer's rights; Rights of the health care consumer

Small Claims Court

Definition:
Small claims courts resolve disputes involving claims for small amounts of money. While the maximum amounts that can be claimed or awarded differ from state to state, court procedures generally are simple, inexpensive, quick and informal.

Collateral

Definition:
Property, such as stocks, bonds or a car, offered to support a loan and subject to seizure if you default.

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