Reselling Schweser materials and hit with fine?

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Stocks and Blondes's picture

I just can’t believe they would try and fine you. I can understand taking the materials off Ebay (happened to me when I tried to resell Becker CPA materials) but I don’t see who in the world would pay them a fine for trying to resell the items.

CFABLACKBELT's picture

higgmond Wrote:
——————————————————-
> From Schweser’s website:
>
> “CFA Terms & Conditions - ProductsSchweser’s®
> study materials are protected by the laws of
> copyright of the United States and other countries
> throughout the world. Unauthorized reproduction of
> these materials, or portions thereof, in any form
> whatsoever, is strictly prohibited.
>
> The Schweser’s® materials you have purchased are
> to be used for your own personal use and benefit.
> Unauthorized commercial resale of Schweser
> materials is prohibited. Please be advised that
> Schweser personnel regularly monitor various
> commercial online auction websites in order to
> prevent the unauthorized sale of Schweser
> materials. Schweser reserves all its rights in the
> event of a violation of this policy, which may
> include discontinuation of the auction itself,
> suspension of your privileges as a seller, and
> enforcement of Schweser’s rights under law and
> equity.”
>
>
> What is “commercial resale”? Is that resale by a
> commercial entity, which you clearly are not, or
> resale via a commercial venue?

Interesting… it sounds like the are specifically targeting eBay, but not sure how they can do that.

jcole21's picture

Hank Moody Wrote:
——————————————————-
> I haven’t seen anything on Kaplan’s website about
> a resale restriction. Where are they coming up
> with this?

Higgs just posted the language above - what’s the link to that Higgmond?

No quote needed

Hank Moody's picture

Okay, got it. So is a one-off private party sale of used marked-up books considered “commercial resale”?

HM

CardShark's picture

hmmm….maybe you could “rent” the books to someone for a period of a year.

********************************************
There is but one pleasure in life greater than winning, that is, in making the hazard.

supersadface.migrated's picture

Hank Moody Wrote:
——————————————————-
> Okay, got it. So is a one-off private party sale
> of used marked-up books considered “commercial
> resale”?

Probably not. That’s one of two angles that lawyer friends keep coming back to.

For those of you wondering, that phrase that Higgmond posted has been copy/pasted is from the terms and conditions on Kaplan’s website, which is squirreled away a few clicks in, but is in fact there and does in fact say that. The issues seem to be:

1) Despite the fact that their T&C says that, given first sale doctrine, it may be unenforceable. There are some court cases where companies have worked this into their T&C and it hasn’t held up.

2) My sale may not be considered a “commercial sale” - my final sale price would likely have been at a massive loss. I believe one year old full schweser sets typically go for around $200, or about 18% of my cost from when I bought the materials. Clearly, I am not going to go into business selling a product where I sell my product for 18% of cost. I’m trying to sell used property as a private individual, not as a business model.

Keep your thoughts coming, I’ll keep you posted.

Hank Moody's picture

How hard do you want to fight this?

HM

Reggie's picture

It’s very simple. Don’t pay. They’re not going to pay lawyers to drag you into court and have a trial over this.

bpdulog's picture

I don’t see why this is even a big deal since the CBOK gets updated every year. For instance, if you are selling 2011 materials to someone taking the 2012 exam.

NO EXCUSES

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greengrape's picture

Don’t pay those pieces of sh*t. Send a letter telling them to go f*ck themselves.

higgmond's picture

jcole21 Wrote:
——————————————————-
> Hank Moody Wrote:
> ————————————————–
> —–
> > I haven’t seen anything on Kaplan’s website
> about
> > a resale restriction. Where are they coming up
> > with this?
>
>
> Higgs just posted the language above - what’s the
> link to that Higgmond?

Not sure I could find it again.

I cannot sanction your buffoonery.

mo34's picture

These lawyers have nothing better to do in life, just pay them. Just think of it as a speeding ticket.

jcole21's picture

mo34 Wrote:
——————————————————-
> These lawyers have nothing better to do in life,
> just pay them. Just think of it as a speeding
> ticket.

I don’t know about all that - you gotta fight it at least a little…

No quote needed

justin88's picture

mo34 Wrote:
——————————————————-
> These lawyers have nothing better to do in life,
> just pay them. Just think of it as a speeding
> ticket.

Do you apologize to people that punch you in the face too? Show some backbone.

Wendy's picture

cityboy Wrote:
——————————————————-
> I don’t really get why they are doing this. Do
> they think it will serve as an example? It is
> clear that counterfeiting will continue (and
> probably even increase), as well as people selling
> their books on ebay and the like.

I can understand why Shwesser would give this industry organization the ok to take down fishy ebay sellers. Last time I shopped for CFA study materials on ebay, the vast majority of it was clearly pirated: like vendors selling 50 copies of Quicksheet at $5 each, vendors selling every Shwesser product all-on-1 DVD, etc.

On the other hand, there is no way that an individual that is legitimately selling used textbooks should be fined. I suspect that supersadface’s auction got cancelled in a hamhanded attempt to curb piracy, rather than in an attempt to keep candidates from selling legit used books. I’ll be interested to see how this story pans out. I hope supersadface gets an apology in the end.

DonDraper's picture

No way this is legit, fight the good fight!

Black Swan's picture

qqqbee would never stand for this sh*t

redacted

mo34's picture

justin88 Wrote:
——————————————————-
> mo34 Wrote:
> ————————————————–
> —–
> > These lawyers have nothing better to do in
> life,
> > just pay them. Just think of it as a speeding
> > ticket.
>
> Do you apologize to people that punch you in the
> face too? Show some backbone.

You have to learn to pick your fights. $300 is not worth the time he’s going to spend fighting these clowns.

numi's picture

Reggie Wrote:
——————————————————-
> It’s very simple. Don’t pay. They’re not going to
> pay lawyers to drag you into court and have a
> trial over this.

I agree. Not only would I not pay, but I would stop following up with their lawyers. They’re just there to harass you and hope that you’ll actually pay. I don’t think they have any real plans to take you to court – as Reggie mentioned, it’s too expensive. They are banking on you, along with others, just to pay the fine which is basically like “free money” to them.

Penny-wenny's picture

this is so obvious… you are hopeless and in the wrong… clearly you are not too smart either since you are having such difficulty realizing your unfortunate predicament

rothwise's picture

I’d ask their lawyers if they want to buy the books for $400: $300 to pay the fine and $100 for your profit. But then again I’m the contentious type

higgmond's picture

Where’s the ACLU when you need them?

I cannot sanction your buffoonery.

Dr. Doug Van Eaton CFA's picture

I’m sorry to hear you have had these troubles. While we are quite active in pursuing those who willfully violate our copyrights for gain, it is not, and has never been our policy or intention to try to prevent the legal resale of our study products by individual candidates who have purchased our materials. We have reached out to the firm performing copyright protection services for us and asked them to contact you directly to resolve this. While we hope that no legal seller runs into problems in this regard, it is always appropriate to contact us directly in such instances. It is, in fact, most often our honest and valued customers who alert us to the activities of those few who seem to have no regard for our rights regarding our study materials.

Sincerely,

Dr. Doug Van Eaton CFA
Head of CFA Education
Kaplan/Schweser

supersadface.migrated's picture

If that’s really Doug Van Eaton, Schweser just rose about twenty-six notches in my regard [on a ten point scale].

I’ll keep you all posted on how this goes.

ColdDarkMatter's picture

Wow…..AF is the SH!T!!!

LPoulin133's picture

Sorry ssf, I just registered another nic to mess with you.

…kidding, that’s pretty awesome.

comp_sci_kid's picture

Amazing!

ZeroBonus's picture

User Profile : Dr. Doug Van Eaton CFA
Posts: 1
Date Registered: Thursday, September 22, 2011 at 01:53PM

hmmmmm

supersadface.migrated's picture

ZeroBonus Wrote:
——————————————————-
> User Profile : Dr. Doug Van Eaton CFA
> Posts: 1
> Date Registered: Thursday, September 22, 2011 at
> 01:53PM
>
> hmmmmm

ZB, I noticed. Hence my qualifying my statement as “If that’s really Doug Van Eaton…”. I’ll let you fellas know what comes of it.

Kabaka's picture

Wow. Class act if that’s legit. Public relations 101… A+

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