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A very grey area I think. Most sites claim fair use/parody.
Creations that include obvious watermarks from shutterstock etc that are submitted to my sites I do not publish.
However a large percentage of images floating about originate on reddit from content supplied by users themselves and as such I see no reason not to use variations of these images as they leaked them on to the traffic super-highway themselves where spreading is expected (I do credit the source when possible).
When creating stuff myself I mostly use images from morguefile just to be safe and also encourage my users to do the same.
I have not heard of or experienced any legal action concerning funny images.
Sorry, no real info from me.
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