Chapter 10 Footnote 10

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See Mark Gimbel (“Some Thoughts on the Implications of Trusted Systems for Intellectual Property Law,” Stanford Law Review 50 [1998]: 1671, 1686), who notes that fair use can be “explained as a method of curing the market failure that results when high transaction costs discourage otherwise economically efficient uses of copyrighted material,” and that “because technologies like trusted systems promise to reduce the costs of licensing copyrighted works—thereby curing this market failure—some argue that the doctrine of fair use will for the most part be rendered unnecessary, obviating the need to regulate technologies that undermine it”; Lydia Pallas Loren (“Redefining the Market Failure Approach to Fair Use in an Era of Copyright Permission Systems,” Journal of Intellectual Property Law 5 [1997]: 1, 7) asserts that under a “narrowed market failure view of fair use, if a copyright owner can establish an efficient ‘permission system’ to collect fees for a certain kind of use, then the copyright owner will be able to defeat a claim of fair use.”