Grokster, Morpheus win P2P liability decision

A US Court of Appeals has ruled that the companies behind Grokster and Morpheus are not liable for copyright infringement that takes place on their networks:
"Under the circumstances presented by this case, we conclude that the defendants are not liable for contributory and vicarious copyright infringement and affirm the district court's partial grant of summary judgment."
The Electronic Frontier Foundation has additional coverage, including copies of the full court decision, recordings of oral arguments, and all sorts of other resources related to the case.
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