THE LAW ECONOMICS, BUSINESS STRATEGY Who Owns A Wonderful Life\"? its use in the
ID: 351478 • Letter: T
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THE LAW ECONOMICS, BUSINESS STRATEGY Who Owns A Wonderful Life"? its use in the movie had to be paid once again. The owners of Itsa Wonderfiul Life began charging fees to cover their fees to was costly access. It's a Won Frank Capra produced It's a Wonder- ful Life, a movie based on a short story by Philip Van Doren Sterm called "The Greatest Gift. The movie starring Jimmy Stewart, did not perform well at the box office, and, although it received five Academy Award nominations, it won no awards. The movie's copyright was allowed to lapse. Television stations Mr. Stern, and the result was costly access. It'sa derful Life was seen on television day and night during the holiday season when the copyright on the movie had lapsed. Now, with the copyright clarification, the movie rights have been reprotected. The story's con- tinuing protection and the high royalty fees make It'sa showed the classic without paying fees because the copyright had lapsed. However, the U.S. Supreme Court decision in Steuwart o Abend, 495 US 207 (1990), offering an extension of What is the relationship between movie copyrights and the copyright protection of the underlying story to the movie, affected Jimmy Stewart's life once again. between story authors and movie producers? What The original story owner, Mr. Stern, held the rights to the story since the movie rights had lapsed. With Wonderful Life a singular holiday event. the rights to the underlying story? Who owns what should businesses negotiating movie rights and royal- ties be certain about before signing an agreement?Explanation / Answer
Rights to the underlying story of any movie comes under intellectual property rights and belong to the holder of copy right. He may sell these rights to any producer or director who with the help of industry professional and financial backing convert the property to a film. Exhibiting the finished movie comes under public performance rights.
Businesses negotiating movie rights and royalties should be certain about following before signing the agreement:
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