In the 9th Circuit, there's precedent that buying a book, cutting up each of those pages, and then selling them individually is derivative work. The 2nd Circuit

In the 9th Circuit, there's precedent that buying a book, cutting up each of those pages, and then selling them individually is derivative work. The 2nd Circuit believes that's precluded by First Sale Doctrine. (I think most people would agree that the 9th Circuit's decision is wrong, though, but it remains binding precedent in that circuit.)