It is when a program or music is taken and used without buying it first. The creator of that music or software does not get the money for their work. It is stealing software or music.
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The musicians who are trying to make a living off the royalties from their music, and the distributors who market the music for them. Music piracy is no different than any other kind of theft.
As much as there are people in the world with computers and internet connection who don't like the high prices of music. There is about 879 music piracy. Give or take.
All the latest software and programs such as limewire is bad for music worldwide because limewire is being used for stealing music this has affected the music industry because lots of people are stealing all over the world, Also piracy is not just ruining the music industry its ruining the film industry aswell.
There are actually two statutes of limitations for music piracy. One is the civil statute of limitations, which is how long you can be sued by the music company, which is 3 years. The other is the criminal statute of limitations, which is how long you can face criminal prosecution for the crime of music piracy (copyright infringement), which is 5 years. These two statutes of limitation are found in 17 USC §507. Note that the fact that you kept the music collection is irrelevant. Courts have ruled that piracy is not a "continuing tort;" what this means is that the statute of limitations starts at the time you commit the theft. Therefore, you can be sued for 3 years or prosecuted for 5 years after you have stolen music, even if you HAD deleted the music.