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Legal Definitions - fixed capital
Definition of fixed capital
Fixed in a Tangible Medium of Expression
In copyright law, a work is considered "fixed in a tangible medium of expression" when it has been captured in a stable, physical form. This means the creative work exists in a way that is permanent or stable enough to be perceived, reproduced, or otherwise communicated for more than a temporary duration. The physical form must be created either by the author themselves or with their explicit authorization. If a work consisting of sounds, images, or both is being transmitted (like a live broadcast), it is considered "fixed" if it is simultaneously recorded at the same time it is being sent out.
Here are some examples to illustrate this concept:
A Novelist's Manuscript: Imagine an author who spends months writing a novel. The story, characters, and dialogue are the creative work. When the author types the manuscript into a word processing program and saves it as a digital file on their computer's hard drive, or prints it out on paper, the work becomes "fixed in a tangible medium of expression." The digital file or the printed pages are the tangible medium, and the act of saving or printing makes the work stable and perceivable, allowing it to be read, edited, and eventually published.
A Photographer's Digital Image: A professional photographer captures a stunning landscape scene with their camera. The visual composition, lighting, and subject matter constitute the creative work. When the camera records this image onto its memory card as a JPEG or RAW file, the photograph is "fixed in a tangible medium of expression." The digital file on the memory card (or later, on a computer's hard drive or cloud storage) is the tangible medium, and it allows the image to be viewed, printed, shared online, and reproduced repeatedly.
A Live Streamed Concert Recording: Consider a band performing a live concert that is simultaneously broadcast over the internet as a live stream. While the performance itself is fleeting, if the streaming platform or the band's production team records the entire concert as it happens, creating a permanent video file, then the concert is "fixed in a tangible medium of expression." The video file is the tangible medium, and the simultaneous recording ensures that the live performance is captured in a stable format that can be replayed, distributed, and enjoyed long after the live event has concluded.
Simple Definition
Fixed capital refers to a business's long-term assets that are not consumed or sold in the normal course of operations but are used repeatedly to generate income. These assets, such as land, buildings, and machinery, are essential for the ongoing production of goods or services.