Music promoter wins “record” damage award

Description

Abstract: This article discusses a recent case, Popovich v. Sony Music Entertainment, which illustrates the benefits and pitfalls of using a hypothetical market standard to determine damages. As the case demonstrates, a party that loses an asset through the fault of another shouldn’t be deprived of damages simply because no ready market for that asset exists. The article notes that attorneys should work with their financial experts to develop alternative theories, including a hypothetical market standard, for quantifying a party’s financial loss.