Music Copyright Essay -- Copyright Laws Music Industry Essays

What is a Copyright? Music Copyright is a very important aspect of the music industry. The Copyright law was established to preserve the creativity and rights of authors, composers, performers of expression. Copyright is the law that protects the property rights of the creator of an original work in a fixed tangible medium. (http://dictionary.reference.com/browse/copyright) A fixed tangible medium is something substantial like copying lyrics on paper or putting a song on tape or CD. Copyright can be seen every where in the music industry. Many music artist of our culture today have been involved in copyright issues. Recently, on MTV news it was stated that, "As the music industry becomes increasingly concerned about protecting the integrity of artists copyrights in the age of MP3. Prince has now filed a motion in New York federal court aimed at shutting down several websites offering free downloads of the Artist's songs." (http://www.mtv.com†¦19990304/prince.jhtml) In addition, in recent music news, "Nine Inch Nails lead man Trent Reznor copyright infringement suit was dismissed. Another artist claimed that the Reznor had stolen material for his last album." (http://www.mtv.com†¦19991202/nine_inch_nails.jhtml) The copyright law has become an important legal aspect to know our music generation. What works can be copyrighted? Copyright applies to more than musical works. It protects many different things. It protects musical works, literary works, dramatically works, dance works (choreography), sculptures, graphic works (maps, graphs, etc.), pictorial works, motion pictures (videotapes), sound recordings, and even computer creations (computer programs, databases). (http://askjeeves.com/copyright/html) Although there are a lot categories that can be protected by copyright, not every expression can be protected. These original expressions are not eligible for copyright protection. Ideas and discoveries are not eligible for copyright protection. A speech or music performance that is not recorded, written (in a fixed medium) is not protected. Titles are also not eligible for copyright protection. For example, if artist A writes a song titled "That Thing" and then artist B writes a totally different song, but titles the song "That Thing" also. Artist B has not infringed on the copyright law. How can an artist copyright their work? Copyright prot... ...ts new and old artist from having their original forms of expression stolen. A performing artist or songwriter should have a good understanding of the factors of the copyright law. An artist always wants to protect their work so the wrong people can not abuse it. By having a deep knowledge about the copyright law, the artists can save themselves from paying endless unnecessary legal fees. . Work Cited Baskerville, David. Music Business HandBook and Career Guide. 7th ed. California: Sherwood Publishing, 2001. Copyright in Music. Apr. 1999. Duration. Mar. 2000. Fair Use. Jan. 1999. Mechanical Licensing. May. 2001. Prince Files Copyright Infringement Suit Against Website. Mar. 1999. Court Dismisses Copyright Suit Against Trent Reznor. Dec. 1999. What is Copyright? Apr. 2001. http://dictionary.reference.com/browse/copyright

Corporate Governance Exam Paper

Games Directors play While analysing the Reality of Boardroom we say many games and tactics often employed by directors so that they don’t lose power. Some such games were alliance, coalition, lobbying, scaremongering, log rolling etc. Here also majority of BOD were near and dear ones of Bright so everybody chose to stay quiet about what is going on. Under-reserving Like we say in the HLL case under-reserving is a tactic used by firms but in the long run it cant stop companies from collapsing. Role of independent directors The question Are independent directors really independent has been topic of debate for ages.In the case the role played by independent directors is insignificant. Also it is questionable whether independent directors were present and in the number advised by law or not. Audit Committee The case talks about KPMG and the arguable role it played but what about the audit committee, was it existent, if so how was it functioning. Its composition and leadership nee ds attention. Manipulation Most of the cases of accounting frauds, falsifying records, deceiving shareholders and bankruptcy rest upon the manipulation of the balance sheet and the tactics used to fudge the data.Ex: Enron The company needs to take inspiration from firms like GSK, Infy, and tata which serve as examples of good CG. GSK * Chairman of board is independent director along with 5 others in in board. Transparency is valued Infosys * Creating wealth legally and ethically Tata * One of the giants and still fascinating governance * In sync with the values * Very elaborate code of conduct Board composition and structure One of the major flaw ways in the board structure is everyone was quiet about the rising storm dominated by power and status of Bright.There should be some independent directors with ability to question the acts and deeds and the following structures are recommended. European Two Tier model Shareholders Supervisory board Executive board Management Employees and staff The supervisory board overlooks functions of executive board and can question and alter the function This model is preferred over unitary board. Chinese model Here we see the presence of the state as a whole also takes society into account along with shareholders Board Leadership One of the major causes of the downfall was the role played by Bright.He was forceful and rigid and thus not a true leader. The features desired for a leader are: Integrity The ability to differentiate between right and wrong and govern in a manner that it is morally correct and sustainable Independence The board was like a dummy/puppet with no or very less degree of independence Intellect The creativity must not come out in form of manipulation and fraud but the betterment of the firm Character He must be ethical and strong character Personality A leader must be flexible and open to new ideas and suggestions. The personality is the holistic perspective.Communication skills, good listener, motivator e tc. Board level information Desired CG was not in place and there was no clear information pathway. The board did not check or authenticate the actions. Control systems The case clearly shows violation of many acts and laws. The board was not conforming to the supervisory work. The control system was not in place. Auditors at fault: In cases like Enron and worldcom it has been seen that the external auditors are able to flee away leaving the company in distress. Usually there are tie ups between management and auditors, some internal settlement that leads to uch actions. Role of internal audit committee is arguable. The company should have gone to auditors like Delloitte who are reliable and tested. Risks that should be considered – Financial risk. Operational, compliance, Business Four aspects of CG Internal control, risk management, behavioural governance, independence Sarbax – oxley act This is one of the landmark acts that came in 2002 after Enron and Worldcomm It says criminal and civil penalties for compliances and accounting frauds, certificate for internal audits and annual report is to submitted by all public and private listed companies.Also introduce PCAOBA (Public company accounting oversight board of America) Was criticized for high cost of compliance CG is a process by which companies are directed and controlled Many attempts have been made to define CG and this one by Cadbury is one of the most comprehensive . Cadbury’s definition – â€Å"Corporate governance is the system by which companies are directed and controlled. The boards of directors are responsible for the governance of their companies. The shareholder’s role in governance is to appoint the directors and the auditors to satisfy themselves that an appropriate governance structure is in place.The responsibilities of the board include setting the company’s strategic aims, providing the leadership to put them into effect, supervising the manageme nt of the business and reporting to shareholders on their stewardship. The board’s actions are subject to laws, regulations and the shareholders in general meeting. † Mike and Minnow: Corporate Governance is a process of governing and directing the performance of any company and the major actors involved are directors, management, society and shareholders CG is basically to overlook, monitor, control and direct the functioning of the management.For this we have BOD and the code of conduct. Some acts, laws and norms facilitate this process of governance. Scope from least to highest Society Media and Press Shareholders Regulatory bodies Contractual Stakeholders Auditors Governance and Management (Diagram) As it is clear that the scope of CG is very wide. It is crucial that CG is acceptable and answerable to many. Functions of the board Majorly there are four functions of the board depending upon the conformity to past or existing and the performance expected for future.Th e four functions are accountability, strategy formulation, supervising and monitoring and policy making Matrix The accountability along with monitoring and supervising is the conformance part i. e. to past or existing situation. The policy making and strategy formulation comes under the performance part with focus on future value. Usually it is seen that independent directors are forced to conformance because they only understand what is going on. Strategic Formulation * This is the most crucial step of governance There must be shared view according to which governance and management abide * It involves SWOT, PEST, Porter analysis and asking of crucial questions of long term strategic importance * It is important to have helicopter vision balanced of long and short term * San Tzu â€Å"Think the mind alike of your enemy† Policy making * This comes from the strategic formulation * Policies are rules, regulation and procedures that must be followed and abided Supervision & moni toring This is the conformance part to check that everything is happening as per the policies and rules or not Accountability * Accountability is to have proper system wherein respective people are accountable for any error or aberration * Only the top management is not accountable but usually is held responsible. Normative: How board thinks directors should spend their time How directors actually do spend their time Relation between functions Strategy formulation Policy making supervision and monitoring Accountability Roles: Agents and Stewards Agency theoryPrincipal shareholders contract with agents seek self interest It says that it is not possible that agents take care of other money with as much vigilance of vow. They seek personal interest and detrimental effect on shareholders Stewardship theory Owners chose and elect stewards(directors) who play the role of stewards Contrary to agency theory it says owners vest their trust in directors who act as stewards of shareholders mon ey. Along with the board the following roles are performed by the director Managing the board Managing the meeting Strategic leadership Cooperation between board and management Company’s face to publicBy means of all these functions and roles the board makes an effort towards fair and equitable distribution of profit, ethical governance of firm and deters any unethical behaviour It lays clear rules, norms, laws and code of conduct to facilitate governance Maxwell communication 1991 – Risky acquisition using pension funds leading to bankruptcy Bank of credit and commerce international Cadbury report 1992 – best practices suggested How to implement it? For a company to enter in stockmarket it has to that it follows Cadbury suggestions Corporate governance is directly related to market valuation of a company.Better managed companies are valued more. Enron failure 2001 – faulty accounting policies; creation of special purpose entities to conceal losses; exces sive executive compensation Worldcom 2002 – The BOD did not oppose the ambitious investment of Worldcom in fiber optic cables and infrastructure to become a market leader (a short term goal). This led to huge losses when the boom for dot com ended. Measures to check such scenarios * Make BOD accountable to stakeholders * Make changes in structure * Clearly explain the responsibilities of Board Make them active board – in giving a leadership to the company * Make the BOD to meet more frequently – listed company at least 4 times a year * Lay down an agenda about what must be discussed Placing constraints, checks on management power including the CEO Eg: SKF micro finance – CEO was sacked as he is no good There should be separation of position of chairman and CEO Ensuring a sound system of internal control and proper disclosure of financial information and executive compensation Auditors are continuing from 20 years Approaches to strengthen the CG 002 â€⠀œ there was a proposal to change companies act 1956 2012 – the bill was proposed in loksabha Very lengthy process to make a law But then one law for all companies reduces flexibility In 1998 CII appointed a committee under Rahul bajaj to create guidelines for cg which is only voluntary. Only 0. 1% adopted them. Voluntary Purely legal approach Cg code Code – a set of practices, guidelines which are expected to be followed by the companies 2 approaches for cg code 1) Principle based – lay down broad principles; comply or explain principles link it with listing.Make the companies which are not adopting explain why they are not adopting 2) Rule based approach – comply or get prosecuted; in extreme cases companies are delisted. But then the shareholders are effected. Rule based approach is rigidity. The companies will try to outsmart the rules if they are rigid. Eg: BJP chief Nitin Gadkari driver was shown as a director in a company. The directors get huge mo ney for just attending 4 meetings, so they agree with whatever the companies say to earn easy money or else they would be removed from the board.CG in India * The issue of CG has come up mainly in the wake up economic reforms characterized by liberalization, privitization and globalization. * The way foreign investments is CG * The last point in previous year * SEBI committee on CG headed by SHri Kumara Mangalam Birla submitted its report in Feb 2000 * Clause 49 in listing agreement with stock exchanges made it mandatory for companies to follow recommendations by Kumara M B committee * Then Naresh Chandra committee is appointed by the †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. Indian Code Inspired by Cadbury code, 1992 * CII code – 1998 (voluntary compliance could not make much difference) Implementation 2005 – all the companies above 3 crore revenues Audit committee * As an interface between the board and auditors atleast 3 members (NED) majority of independent dire ctors * Looks after all the activities related to auditors i. e. appointment of reappointement of auditors * Reviewing of internal reports * Audit committee must meet 4 times a year * Gap should not be more than 4 months Disclosures Management discussions and analysis report * Related party transactions * Remuneration to NEDs Clause 49 Case of satyam First biggest and most shocking scam involving †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. Modus operandi of the scam * Super user login to some employees * Entering fake invoices * Boost revenues and profits * Falsified bank statements * Falsified interest income Role of board in satyam’s case Overlooking the reports The board said ok to all proposals by raju to direct funds to acquire lands in hyd Directors had a salary of rs 12 lakh annually

Likert Scale What Is It and How to Use It

A Likert scale is a close-ended, forced-choice scale used in a questionnaire that provides a series of answers that go from one extreme to another. For example, a scale might have five choices that start at one end with strongly agree and end at the other with strongly disagree, with less extreme choices in the middle three points. Likert scales are widely used in psychology and other social science research. Key Takeaways: Likert Scales A Likert scale enables respondents to choose from a linear set of responses that increase or decrease in intensity or strength. It is a close-ended, forced-choice scale.Widely used in psychological and other social science research today, Likert scales enable researchers to collect data that provides nuance and insight into participants’ opinions. This data is quantitative and can easily be analyzed statistically.Likert items often offer response categories on a 1-to-5 scale, but a range of options is possible, including 1-to-7 and 0-to-4 scales or even-numbered scales that typically range from 1-to-4 or 1-to-6. Creation of the Likert Scale The Likert Scale was developed by American psychologist Rensis Likert in 1932. Likert wanted to find a way to systematically measure individual attitudes. His solution was the scale that now bears his name. Likert scales offer a continuum or series of typically five to seven fixed-choice options. This enables people to self-report the extent to which they agree or disagree with a given proposition. As a result, Likert scales allow for more nuance than a simple binary response, like a yes or no. This is the reason why Likert scales are often used to collect data in psychological research. Likert Scale Format You know you’re completing a Likert scale if you’re asked to give an opinion in response to a statement by choosing from a series of choices that enable you to rate your degree of agreement. Sometimes instead of a statement, the item will be a question. The most important thing to note, however, is that the options from which you can choose your response offer a range of opinions that don’t overlap.   Likert scales create a linear set of responses that increase or decrease in intensity or strength. These response categories are open to respondent interpretation. So, for example, one respondent may select â€Å"agree† in response to a statement, while another feels the same way but selects â€Å"strongly agree instead. Regardless, respondents and the researchers collecting their data understand that â€Å"strongly agree† is considered a more intensely positive option than â€Å"agree.† While it’s most common to see Likert scales that include 5 to 7 response options, sometimes a researcher will use more. Nonetheless, it’s been observed that when people are presented with a greater number of response options they don’t tend to choose the responses at either end of the scale. Perhaps in a large scale the end-point options look too extreme. A scale with an odd number of response categories has a midpoint that will be considered neutral. If a researcher wants to force a respondent to choose whether they lean one way or another on a question, they can eliminate the neutral option by using a scale with an even number of options. Examples Here are some examples of Likert items from real psychological questionnaires. From the Big 5 Personality Trait Short Questionnaire: I see myself as someone who is full of energy, likes to always be active. 0.  Ã‚  Ã‚  Ã‚  Totally disagree 1.  Ã‚  Ã‚  Ã‚  Disagree a little 2.  Ã‚  Ã‚  Ã‚  Neutral opinion 3.  Ã‚  Ã‚  Ã‚  Agree a little 4.  Ã‚  Ã‚  Ã‚  Totally Agree From the Meaning in Life Questionnaire: I am always looking to find my life’s purpose 1.  Ã‚  Ã‚  Ã‚  Absolutely untrue 2.  Ã‚  Ã‚  Ã‚  Mostly untrue 3.  Ã‚  Ã‚  Ã‚  Somewhat untrue 4.  Ã‚  Ã‚  Ã‚  Can’t say true or false 5.  Ã‚  Ã‚  Ã‚  Somewhat true 6.  Ã‚  Ã‚  Ã‚  Mostly true 7.  Ã‚  Ã‚  Ã‚  Absolutely true From the BBC Well-Being Scale: Do you feel you have control of your life? 1.  Ã‚  Ã‚  Ã‚  Not at all 2.  Ã‚  Ã‚  Ã‚  A little 3.  Ã‚  Ã‚  Ã‚  Moderately 4.  Ã‚  Ã‚  Ã‚  Very Much 5.  Ã‚  Ã‚  Ã‚  Extremely Likert scales can be used to ask for a wide range of attitudes besides agreement. In addition to the examples above, Likert items can ask about how frequently an individual does something (endpoints for a frequency item would be â€Å"Very frequently† and â€Å"Never†), how important an individual believes something is to them (endpoints for an importance item would be â€Å"Very Important† and â€Å"Not very important†), and how much one likes something (endpoints for a liking item would be â€Å"A lot† and â€Å"Not at all†). Advantages and Disadvantages of Likert scales By including several categories to choose from in the response to each item, Likert scales enable a researcher to collect data that provides nuance and insight into participants’ opinions. Also, this data is quantitative so its fairly easy to analyze statistically. On the other hand, Likert scales may be impacted by respondents need to appear socially desirable. Especially if a participant holds an opinion that they know would be deemed socially unacceptable, they may choose a response to an item that will make their opinion seem more appropriate to the rest of the world. For example, an individual is unlikely to agree with items that would cause them to seem prejudiced when completing a questionnaire about attitudes towards minorities, A possible remedy for this issue could be to allow respondents to fill out questionnaires anonymously. Sources Cherry, Kendra. â€Å"Using Likert Scales in Psychology.† Verywell Mind, 14 June 2018. https://www.verywellmind.com/what-is-a-likert-scale-2795333Jamieson, Susan. Likert Scale. Encyclopaedia Britannica, 16 December 2013. https://www.britannica.com/topic/Likert-ScaleKinderman, Peter, Schwannauer, Matthias, Pontin, Eleanor, and Tai, Sara. The Development and Validation of a General Measure of Well-Being: The BBC Well-Being Scale. Quality of Life Research, vol. 20, no. 7, 2011, pp. 1035-1042. doi: 10.1007/s11136-010-9841-zMcLeod, Saul. â€Å"Likert Scale.† Simply Psychology, 24 October 2008. https://www.simplypsychology.org/likert-scale.htmlMorizot, Julien. Construct Validity of Adolescents Self-Reported Big Five Personality Traits: Importance of Conceptual Breadth and Initial validation of a Short Measure. Assessment, vol. 21, no. 5, 2014, pp. 580-606.  doi: 10.1177/1073191114524015,The Editors of Encyclopaedia Britannica. â€Å"Rensis Likert.† Encyclopaedia Brit annica, 30 August 2018. https://www.britannica.com/biography/Rensis-LikertSteger, Michael F., Frazier, Patricia, Oishi, Shigegiro, Kaler, Matthew. The Meaning in Life Questionnaire: Assessing the Presence of and Search for Meaning in Life. Journal of Counseling Psychology, vol. 53, no. 1, 2006, pp. 80-93. doi: 10.1037/0022-0167.53.1.80