New EU Copyright Laws Seek To Hit Back at Google, Facebook
- Published Apr 14, 2019
- Current Coverage
Unless something unforeseen happens, the EU looks set to pass a new set of copyright laws for the first time in twenty years on Monday as they seek to protect artists, journalists, publishers, and others from losing fair compensation for their work. In particular, the new laws appear to be a way to require two tech giants in particular, Facebook (FB) and Google (GOOG) to better protect creative content by imposing a set of more stringent regulations. The proposed legislation puts the burden on companies like Google to sign licensing agreements with artists, musicians, and journalists for if they wish to use their work. In particular, Google’s Youtube and Facebook’s Instagram would be forced to install new filters that would catch violations of the copyright laws. Although the intent seems to be to prevent infringement of creators’ rights by certain big-name companies, opponents of the law see it as possibly affecting small start-ups much more who have less funds to implement the required changes. Several EU countries are set to oppose the change, including Finland, Italy, Luxembourg, Poland, Sweden, and the Netherlands, but their opposition will not likely be able to stop the new laws from passing. Minus Sweden, the countries opposing the new copyright regulations released a joint statement, saying in part, “We regret that the directive does not strike the right balance between the protection of rights holders and the interests of EU citizens and companies.” Vista Partners LLC (”Vista”) is a California Registered Investment Advisor based in San Francisco. Vista delivers timely and relevant insights via the website: www.vistapglobal.com with daily stories, weekly market updates, monthly macroeconomic newsletters, podcasts, & Vista’s proprietary equity and market research to help you stay informed and stay competitive. Vista’s mission is to invest partner capital while arming investors with a comprehensive global financial perspective across all market sectors. Vista also seeks to provide select issuers with actionable advice regarding fundamental development, corporate governance, and capital market directives. Stay Informed! Stay Competitive! Sign Up to receive FREE email updates here!