Baidu Off the Government’s Naughty List
From their July settlement with three record companies, Baidu Inc. (NASDAQ:BIDU) has been taken off the U.S. government’s list of “notorious markets.”
This list, also known as the piracy list, identifies companies that “help sustain piracy and counterfeiting of intellectual property.”
According to a Tuesday report by U.S. Trade Representative Ron Kirk, Baidu’s agreement to pay Universal Music Group, Music Group Corp. and Sony Corp (NYSE:SNE) for copyrighted material allowed them to leave the list. Hong Kong’s The Ladies Market and Moscow’s Savelovskiy Market were also dropped by Kirk.
Not all companies were removed from the list. China’s online retailer, Alibaba Group Holding Ltd.’s Taobao, remains on the report’s list along with more than 30 worldwide online and physical markets identified as helping the illegal sale of material protected by copyright patents. Sweden’s Pirate Bay file-sharing website and Beijing’s Silk Street Market in Beijing are also part of the list, according to the report.
Kirk said in a Tuesday statement, “The notorious markets highlighted in this review negatively impact legitimate businesses and industries of all sizes that rely on intellectual property to protect their goods and services. We hope that this review will continue to yield the kind of concrete action from highlighted markets that led to the removal of several markets from the list this year.”