Hidden Nook

"Because in Cyberspace, no one can hear you scream."

Sunday, March 06, 2005

Kazaa Assets Frozen

[Media Source*]

(Posted on the Blogger News Network)

The assets of Sharman Networks, the maker of the Kazaa peer-to-peer software, have been frozen pending the outcome of a lawsuit brought against the software-maker by the recording industry.

The personal assets of Sharman's directors, including their homes, have also been frozen following the latest legal push. Australia's Federal Court heard the music industry's motion in Sydney on Friday. The assets of Altnet, which licenses technology to Sharman and is a co-respondent in the action brought against Sharman, have also been affected.

Finally it seems like digital justice is being rewarded. Although I do not enjoy paying $20 per CD to the industry, theft of music produced by artists and corporations does not "correct" the wrong of them overpricing it. They need to eat too, and if you don't like it, wait for it to go on sale or see if it is posted on Half.com for crying out loud.

It seems the assets were frozen when Sharman's directors were selling their house and making deals with outsiders. The Music Industry freaked out and after a court order the director's personal assets were frozen. But this may be the beginning of the end for Kazaa.
If the music industry's suit is successful, the assets may be awarded as damages to the music industry.

Following the filing of a motion with Australia's Federal Court, all parties voluntarily agreed to having their assets restricted, Speck said. The directors will be prevented from transferring their personal and business assets offshore before March 22, when Justice Murray Wilcox, the judge hearing the case, returns from vacation. Until then, all identifiable assets will remain frozen.

Although I expect (and hope) that Kazaa lose this case, it will most likely be appealed toward a higher court in Australia. If Kazaa wins these series of court cases though, it would spell doom for the music industry as a whole which would force me to spend hours finding music online listening to unknowns who (for the majority) should take up a day job. Selah.

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By Darnell Clayton • 5:33 PM • Email Post • •


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