Watch out, copyright holders! Release of conference call transcript deemed not infringement

Description

Abstract: Several hours after a Swiss company released its earnings report, it held a conference call with a group of financial analysts (as permitted by Swiss law). No journalists or press organizations were invited, and the analysts were informed that no recordings for publication were permitted. Nonetheless, a financial information provider obtained a recording and transcript and made both available, without alteration or editorial commentary, to subscribers to its online financial research service. This article examines why an appeals court decided that this constituted fair use. The Swatch Group Mgmt. Services Ltd. v. Bloomberg L.P., Nos. 12–2412–cv, 12–2645–cv, Jan. 27, 2014 (Fed. Cir.)