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I am surprised that many folks in this thread seem to have little regard to intellectual property.
I do think uses of IP should be fairly compensated. However, $3.5 mil is lot of money for bumbling mistakes by USPS since the sculptor probably got compensated for the work already. What a windfall.
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So the judge did a sauce-for-the-goose-is-sauce-for-the-gander number. The USPS was estimated (mostly their own numbers, plus some outside testimony) to have sold U$D 70m worth of Lady Liberty stamps that would never be used (pure profit). The USPS charges a running royalty of 8% or 10% to use their stamps. The judge gave the USPS a break, and applied a royalty of only 5%. And Bob's your uncle.
Thanks for the explanation. Makes sense...
Posted 07/09/2018 3:50 pm
