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Assuming the damages Limewire will have to pay total an astronomical amount, who on earth pays for it? Do the founders take on the debt for the rest of their li
by olivercameron 16y ago
Assuming the damages Limewire will have to pay total an astronomical amount, who on earth pays for it? Do the founders take on the debt for the rest of their lives or what?
- redthrowaway 16y agoI'm assuming that Limewire is an LLC, which means its debts (don't always) transfer to its principals. This would likely mean Limewire is liquidated and the plaintifs get dibs on whatever is made from that.
- mnutt 16y agoLimeWire is incorporated as an LLC but plaintiffs are trying to pierce the corporate veil and name the founder personally.
- redthrowaway 16y ago>plaintiffs are trying to pierce the corporate veil They're also trying to get a $75T judgment. I'd suggest what they are seeking and a likely reality don't overlap much.
- mnutt 16y agoIn this case, the court gave them exactly what they asked for: "As a result of the actions and benefits described above, Lime Group and Gorton are liable for LW’s inducement of infringement. See Capitol Records, Inc., 218 F. Supp. 2d at 284-85; Blum v. Kline, 1988 WL 52916, *2 (S.D.N.Y. May 17, 1988) (finding that president of defendant corporation could be found liable for infringement because he “owns all of [the corporation’s] shares and is responsible for [its] daily activities.”)." (full summary judgement here: http://www.scribd.com/doc/31272055/Arista-Records-Summary-Judgment-Opinion http://www.scribd.com/doc/31272055/Arista-Records-Summary-Ju...)
- redthrowaway 16y agoWell that's mildly disappointing. I guess he'll have to declare bankruptcy. I still think the judgement should be payable in mass emails of pictures of $20 bills.