HOME FORUMS BROKERS SOFTWARE BOOKS CONTACT US
Elite Trader Your Account  •  Become a Member  •  Help  •  Search    
    Forums ›› Community Lounge ›› Politics & Religion ›› What If You Couldn't Sell What You Own?  


Post A Reply
    
pspr
 

Registered: Sep 2002
Posts: 16520

 

10-08-12 12:41 AM

An appellate court has said just that about any item made overseas - from your car to your clock radio. To uphold this ruling would be absurd. SCOTUS will hear arguments about this decision and will either uphold the ruling or set things right.

At issue in Kirtsaeng v. John Wiley & Sons is the first-sale doctrine in copyright law, which allows you to buy and then sell things like electronics, books, artwork and furniture, as well as CDs and DVDs, without getting permission from the copyright holder of those products.

Under the doctrine, which the Supreme Court has recognized since 1908, you can resell your stuff without worry because the copyright holder only had control over the first sale.

Put simply, though Apple Inc. has the copyright on the iPhone and Mark Owen has it on the book “No Easy Day,” you can still sell your copies to whomever you please whenever you want without retribution.

That’s being challenged now for products that are made abroad, and if the Supreme Court upholds an appellate court ruling, it would mean that the copyright holders of anything you own that has been made in China, Japan or Europe, for example, would have to give you permission to sell it.

“It means that it’s harder for consumers to buy used products and harder for them to sell them,” said Jonathan Band, an adjunct professor at Georgetown University Law Center, who filed a friend-of-the-court brief on behalf of the American Library Association, the Association of College and Research Libraries and the Association for Research Libraries. “This has huge consumer impact on all consumer groups.”

Another likely result is that it would hit you financially because the copyright holder would now want a piece of that sale......

The case stems from Supap Kirtsaeng’s college experience. A native of Thailand, Kirtsaeng came to America in 1997 to study at Cornell University. When he discovered that his textbooks, produced by Wiley, were substantially cheaper to buy in Thailand than they were in Ithaca, N.Y., he rallied his Thai relatives to buy the books and ship them to him in the United States.

He then sold them on eBay, making upward of $1.2 million, according to court documents.

Wiley, which admitted that it charged less for books sold abroad than it did in the United States, sued him for copyright infringement. Kirtsaeng countered with the first-sale doctrine.

In August 2011, the U.S. Court of Appeals for the Second Circuit upheld a lower court’s ruling that anything that was manufactured overseas is not subject to the first-sale principle. Only American-made products or “copies manufactured domestically” were.

“That’s a non-free-market capitalistic idea for something that’s pretty fundamental to our modern economy,” Ammori commented.

The Supreme Court is scheduled to hear oral arguments on the case on Oct. 29.

Both Ammori and Band worry that a decision in favor of the lower court would lead to some strange, even absurd consequences. For example, it could become an incentive for manufacturers to have everything produced overseas because they would be able to control every resale.


http://www.marketwatch.com/story/yo...eril-2012-10-04

    Edit/Delete Quote Complain
PHOENIX TRADING
 

Registered: Mar 2012
Posts: 6685

 

10-08-12 02:43 AM

Then the value of new stuff drops

    Edit/Delete Quote Complain
pspr
 

Registered: Sep 2002
Posts: 16520

 

10-08-12 02:48 AM


Quote from PHOENIX TRADING:

Then the value of new stuff drops


Who would buy an imported product that isn't disposable if SCOTUS upholds this ruling?

    Edit/Delete Quote Complain
377OHMS
 

Registered: Feb 2005
Posts: 6497

 

10-08-12 03:18 AM

I would simply ignore whatever the government says and do what I please.

    Edit/Delete Quote Complain
mrbill
 

Registered: Jun 2012
Posts: 1492

 

10-08-12 04:04 PM


Quote from 377OHMS:

I would simply ignore whatever the government says and do what I please.



I agree, this concept is stupid. Imagine how many parts in our cars and computers are made overseas. Can't resell them? Nonsense.

    Edit/Delete Quote Complain
    
Post A Reply


Receive an email whenever a new post is added to this thread by subscribing to it.
 
Rate This Thread:

Forum Jump:
 

 

   Conduct Rules  -  Privacy Policy  -  Day Trader -  Day Trader Forum -  Best Trading Software -  Sitemap Copyright © 2013, Elite Trader. All rights reserved.    
 
WHILE YOU'RE HERE, TAKE A MINUTE TO VISIT SOME OF OUR SPONSORS:
Advantage Futures
Futures Brokerage & Clearing
AMP Global Clearing
Futures and FX Trading
Bright Trading
Professional Equities Trading
CTS
Futures Trading Software
DaytradingBias.com
Professional Trading Analytics
ECHOtrade
Professional Trading Firm
eSignal
Trading Software Provider
FXCM
Forex Trading Services
Global Futures
Futures, Options & FX Trading
Interactive Brokers
Pro Gateway to World Markets
JC Trading Group
Direct Access Trading
MB Trading
Direct Access Trading
MultiCharts
Trading Software Provider
NinjaTrader
Trading Software Provider
OANDA
Currency Trading
optionshouse
Option Trading & Education
Rithmic
Futures Trade Execution Platform
SpeedTrader
Direct Access Trading
SpreadProfessor
Spread Trading Instruction
thinkorswim by TD Ameritrade
Direct Access TradingAdvertisement
TradersStudio
System Building & Backtesting
Trading Technologies
Trading Software Provider
Trend Following
Trading Systems Provider