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BearShare bites the dust, settles with RIAA for $30 million

BearShareFree Peers, Inc., the company which produces popular file sharing software BearShare, has reached a $30 million settlement with RIAA and bowed out of the P2P business. The company will be selling all of its BearShare-related intellectual property, including source code, user information, and over 100 domain names, to iMesh, the P2P company that agreed to go "legit" after reached its own $4.1 million settlement with the RIAA two years ago. iMesh will continue to distribute BearShare on BearShare.com (though what changes are in store remain to be seen), and since it works with the Gnutella network, old versions of the software will continue to operate as they always have.

Tags: bearshare, filesharing, gnutella, imesh, law, legal, p2p, riaa, settlement

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