Art financing or art loans: Through financial institutions or auction houses, a work of art can be secured by loans, with the artwork itself being the collateral for the loan. Commission: (a) An amount or percentage of fees – for example, from a shipper to an auctioneer or agent of a buyer or seller, or to a dealer, gallery or broker; or (b) A work of art specifically commissioned by and made for a buyer. The commission of such a work of art is often documented in a commission contract. Counterfeit or counterfeit: An inauthentic, imitated or counterfeit work of art. Although art in the broadest sense of the term encompasses the arts (music, film, theatre, literature, etc.), when referring to art law in its traditional definition, this only refers to works of art and/or visual arts. In fact, the fields of music, cinematography, film, literature and entertainment, despite the fact that these works are in fact works of art, are often disciplined by media law. In addition, art law is closely related and often overlaps with the area known as cultural property law. Finally, it should be noted that it is only recently that art has entered a phase in which the creation, sale, collection and exhibition of works of art enjoy special legal treatment through laws, regulations, ordinances, contracts and jurisprudence, which means that no specific legislation has been created before for situations that arise in the field. This has led to many uncertainties and complications that have led to the creation of specific applicable legal instruments that now provide the system with a stronger basis and more secure legal certainty. Condition: the physical condition or appearance of a work of art, including deterioration, damage or restoration. Estate: A person`s property, money and possessions – the sum of everything they own.
An artist`s estate includes all unsold works of art and works of art in progress. All this is strictly related to so-called traditional art. Today, however, art has evolved profoundly and, as always, the law is “lagging behind” and is now catching up and adapting to these new aspects and legal implications. Artistic disputes: disputes related to art (in the broadest sense), sculptures or other cultural property, including disputes of authenticity, ownership and ownership, claims for counterfeiting, damaged works of art, misappropriation, auctioneer liability and Restoration of works of art (see also refund below). Defining art has always been a challenge and yet there is no definitive answer to it, as it covers a concept that has profoundly evolved over the years. This makes it impossible to find a suitable framework, because the only solid pillar we have today is based on the fact that art is subjective. We can refer to art with a very dry definition: the different branches of creative activity, such as painting, music, literature and dance. The U.S. Court of Appeals for the Seventh Circuit ruled in favor of the Trial Court, but the U.S. Supreme Court disagreed. In the Court`s view, punitive damages are a legal concept of art that has a generally accepted meaning of the common law in state law. Congress was aware of this importance when it passed the FTCA.
According to traditional common law principles, punitive damages are intended to punish a party. Since the damages for future medical expenses and loss of joie de vivre were intended to compensate Molzof instead of punishing the government, the court overturned the decision and referred the case back to the Seventh District. Copyright: Under UK law, copyright is an intellectual property right that exists and protects original literary, dramatic, musical or artistic works. sound recordings, films or programs; and the typographical arrangement of published editions. However, the requirements and the simple notion of work have a different meaning from one jurisdiction to another (Italy, for example, has a broader conception of work), and recent case law has proved that the system has not resulted in a fully harmonised definition in this regard. Copyright protects the expression of ideas, not the idea itself. The term of protection may vary from country to country, but generally does not fall within the life of the author plus 50 years after his death. Artist`s Resale Right (ARR): A royalty that applies to EU artists in the EU and is payable to the artist when an original work of art is resold by an art market professional such as an auction house, gallery or dealer for more than €1,000.
The ARR is valid for the same period as copyright and has been in force since January 2012 for works qualified as artists who have been dead for less than 70 years. The ARR is calculated on a sliding scale based on the selling price, but is limited to €12,500, and some sales are exempt. Restitution: Restitution is the restitution of works of art, including looted works of art, stolen works of art, or claims of Holocaust looting. However, if, on the one hand, art struggles to find a convincing and exhaustive definition, on the other hand, art law can effectively be defined as the whole of law that involves different areas of law and that protects, regulates and promotes the creation, use and commercialization of art.