Innovative Solution Makes Formerly Illegal P2P File Exchange Legal

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P2Market Ltd. has found a way to convert P2P networks into a modern Internet marketplace where legal file exchange can occur, assuring owners of copyrighted material a profitable outlet for their work. When downloading and sharing music or movies, P2P users buy and sell files between them and pay the copyright owners of the material a pre-negotiated fee defined only by the copyright owner.

Today, a number of file-sharing (P2P) networks provide users with powerful tools for file exchange. Nearly 9 million P2P-users are exchanging files right now. Over the period of a year, over 80 million P2P-users take part in illegal file exchange -- already a vast market!

On the other hand, because of illegal file-sharing, music companies lost more than $4.6 billion worldwide last year, states the Recording Industry Association of America (RIAA), and movie industry officials pegged their annual losses from bootlegged films at more than $3.5 billion (http://p2pnet.net/story/2081).

P2Market has developed an innovative solution for the problem of illegal file exchange. Now the complete platform for a new Internet marketplace is in place. P2Market has already reconstructed software for two main P2P networks: Gnutella and BitTorrent. The next aim is reconstructing other existing networks by adding copyright control in its data transfer process.

Owners of copyrighted works can now register their copyrighted material on the P2Market website and set trade parameters for their files -- including a minimum price and copy-tax -- over which they have complete control. No one on the market can sell a file cheaper than the minimum price, which goes directly to the copyright owner. If the seller markets the file(s) for higher than the minimum price, the copyright owner also receives a percent of this difference, called a copy-tax. The remainder goes to the user (seller). A file can be downloaded/shared via the legal file exchange network only if the copyright owner sets the trade parameters and permits its distribution.

This new system of legalized exchange allows P2P users to open P2Market accounts for exchange/trade operations in legal P2P networks. Every user can be a buyer and seller depending on if he downloads or shares a file. When a user (buyer) downloads a file he sets his preferable buy price. When a user (seller) shares a file he sets his selling price. The money settlement is done automatically by downloading a file. Copyright fee is also automatically transferred to the account of the copyright owner.

About P2Market Ltd.

Headquartered in Switzerland P2Market's goal is to legalize copyrighted file exchange in P2P networks and to build up a distributed digital market. For more information, visit http://www.p2market.com.

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Iaroslav Stefanov
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