An Orphaned Work is any creative work of art where the artist or copyright owner has released their copyright, whether on purpose, by passage of time, or by lack of proper registration. In the same way that an orphaned child loses the protection of his or her parents, your creative work can become an orphan for others to use without your permission.
Currently, you don’t have to register your artwork to own the copyright. You own a copyright as soon as you create something. International law also supports this. Right now, registration allows you to sue for damages, in addition to fair value.
The only people who benefit from this are those who want to make use of our creative works without paying for them and large companies who will run the new private copyright registries.
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Related audio interview: http://www.sellyourtvconceptnow.com/orphan/orphan_works_information.mp3