14 DAY TRIAL // World renowned media stock marketplace iStockphoto issued a press release stating that it would be legally guaranteeing its stock collection at absolutely no cost for the customer. The company, a subsidiary of Getty Images, has assured users that purchasing or using an image according to its License Agreement will not break any copyright, trademark or intellectual property or privacy rights.
The company is so sure that it is willing to back up its submission and user image acquisition processes by offering a $10,000 sum for legal and direct damages from any copyright-related lawsuit against its users. This sum can be extended to a huge $250,000 figure by simply purchasing 100 iStock credits as an extension to its Legal Guarantee service.
These guarantees will cover all iStockphoto content, ranging from images, and videos to Flash content and even audio. The Canadian-based company is so sure of its strict file submission and checking system that it's willing to back up all its current and previous stock and royalty-free content that has past the five million files mark.
“Our first line of defense has always been - and continues to be - our rigorous inspection process,” said Kelly Thompson, CEO of iStockphoto. “The Legal Guarantee is simply an added layer of protection for our customers, many of whom are using microstock more than ever before.”
As the leader in stock photography, iStockphoto is not only dipping its feet in the unknown depths of the copyright ocean, but is playing a very dangerous game that could very easily turn around and lead to some huge budget holes in the future. Even if the company is turning $1.2 million in weekly artist payments, it could present itself as an easy target for legal frauds.
“There are certainly millions of images available on the Web, but most are not cleared for commercial usage. Creative Commons images can be perfect for some projects, but there are little to no formal inspections on those files, so iStock offers a much safer and suitable alternative when using multimedia,” CEO Kelly Thompson added.