From Lawrence Lessig: "Everyone’s seen the brilliant JibJab Flash of Bush/Kerry. The piece claims to be a "parody" of Woody Guthrie’s "This Land." As any copyright lawyer recognizes, it is not a "parody" in the sense that "fair use"ordinarily recognizes it. A "fair use" "parody" is a work that uses a work to make fun of the author. JibJab is using Guthrie’s work not to make fun of Guthrie, but of the candidates. (For the now classic case on this, see Dr. Suess v. Penguin Press, where a "parody" of O.J. Simpson using The Cat in the Hat was not "fair use.")"
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