Most of the copyright law consists of limitations, defenses, and exceptions to the owners' exclusive rights; these are referred to as "balancing factors," to make the law square a little better with the public good. The one most often cited is fair use or fair dealing, which allows certain limited unlicensed uses for purposes such as education and critique.
Joint authors of a work are joint owners of the copyright. Also, an author or other owner of a copyright can transfer copyright ownership to any number of other joint owners. Similarly, multiple heirs of an estate may inherit joint or common ownership of the copyrights owned by the decedent.
Only if the copy you're copying was not authorized for general distribution by the copyright owners. In other words, the copyright owners can certainly authorize free distribution of their music if they want to. However, if you make a download (a reproduction) of an unauthorized copy, then your copy (like the one you copied) is a copyright infringement because you have no permission to make that copy.
Yes; royalties are one way of ascribing value to intellectual property.
One common copyright infringement is uploading digital files containing copyrighted text, image, video or music without permission from the copyright owners, for purposes that do not fall within any statutory exemption.
There are many different rightsholders--sometimes multiple owners for one song.
If you buy songs legally from the LimeWire store then it will cost money. If you are caught downloading songs illegally without paying for them then it could cost you a lot of money. To quote LimeWire: What Happens If I Commit Copyright Infringement? Your activities on peer-to-peer networks such as LimeWire may be monitored by copyright owners. Violation of copyright laws may subject one to substantial money damages. Copyright owners have sued thousands of people for infringement of copyright over peer-to-peer networks. (See links below)
It is not illegal to download stuff that can be legally downloaded. It is illegal to download stuff that is not legally downloadable. If it is something you would normally pay for in a store and you are downloading it for free then it is almost certainly illegal. LimeWire's advice is: "Your activities on peer-to-peer networks such as LimeWire may be monitored by copyright owners. Violation of copyright laws may subject one to substantial money damages. Copyright owners have sued thousands of people for infringement of copyright over peer-to-peer networks."
Copyright is a noun, or an adjective as in the phrase "copyright protection."
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LimeWire is software that links your computer to other computers so you can share files that you have created. If the other person does not have the right to share the files (music, movies, games etc.) then they are acting illegally in making them available and you are acting illegally in receiving them. LimeWire says: Your activities on peer-to-peer networks such as LimeWire may be monitored by copyright owners. Violation of copyright laws may subject one to substantial money damages. Copyright owners have sued thousands of people for infringement of copyright over peer-to-peer networks. (See links below)
Just the one: copyright.
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