P2P firm Lime Wire has already been found liable for willful copyright infringement, but this week the hearing to decide what damages it should face has kicked off with opening statements from both sides. Lime Wire’s attorney Joseph Baio attacked the RIAA’s claim that Lime Wire’s software was instrumental in the decline of recorded music revenues, pointing to public quotes from major label executives about other factors, and also highlighting new revenue streams including internet radio, video game licensing and YouTube revenue shares. Meanwhile, RIAA attorney Glenn Pomerantz focused on the wealth of Lime Wire boss Mark Gorton, claiming that he has squirrelled away $100 million in his time at the company, while putting in place a policy of never acknowledging the copyright infringement that was taking place on his service. “He knew what he was doing was wrong,” said Pomerantz to the jury. “He knew one day he could face you.” The hearing could take as long as a month. Source: CNET

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