Quote:
Originally Posted by TrashyContent
This in the licensing agreement worried me a little bit...
Licensor agrees:
To a penalty for any breach of the guarantees and/or the obligations herein of $400 (Four Hundred US Dollar) per infringement and per applicable video and to probably lose the general Cash Guarantee acceptance.
There's a lot of small print, what if you had 100, 500, 1000 videos on there and they in some way were guilty of an infringement... Not sure I could has a small business handle a $40,000 fine, let alone $400,000 !!! Do people like ModelHub have those kind of penalties ?
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While ATKCash's TOS is for affiliates and not content licensing, their TOS has a liquidated damages clause with even higher monetary amounts.
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VI. ACCEPTABLE CONDUCT Policy for Affiliates:
D. If you violate any portion of the Acceptable Use Policy, You hereby agree that each and every violation shall result in liquidated damages of $3000 per occurrence. You specifically agree to pay this $3000 in liquidated damages. In agreeing to pay these liquidated damages, you acknowledge that this amount is not a penalty, that the actual damages are uncertain and difficult to ascertain, but that this amount represents the parties' good faith attempt to calculate an appropriate compensation based on anticipated actual damages.
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