Education, Licensing

What is Indemnification for Stock Footage?

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In video production, stock footage has become an essential resource for creators to add production value to their video projects. However, when using stock, the looming concern of copyright claims can cast a shadow over the entire creative process. (Or immediately derail a popular video you just spent hours perfecting!) When licensing content from Pond5, indemnification provides a crucial safety net and peace of mind. In this article, we’ll explore what indemnification for stock footage is and how it protects buyers.

Colleagues Working On Video Edit by FrameStockFootages

 

Understanding Indemnification

Indemnification is a form of compensation that supports the buyer if a copyright claim is made against a purchased asset. It’s a promise made by one party to cover potential losses or damages caused by another party. So, in the context of stock footage, this means that if you (the buyer) encounter a legal challenge due to a copyright claim related to a Pond5 asset, Pond5 agrees to pay for the legal costs incurred in defense of the claim, the liability from the claim, and payment of any settlements, up to the amount included in the licensing agreement. You can think of indemnification as monetary protection when you use an asset licensed from Pod5.

Video editing. Post production. Montage. Filmmaker by AndriyStukhlyak

 

The Indemnification Coverage Offered by Pond5

Pond5 offers multiple licensing options, each including specific indemnification coverage amounts. The three main types of licenses are Individual, Business, and Premium. Let’s review each one.

Individual License: provides industry-leading indemnification for up to $15,000, which means that Pond5 will cover legal costs, liability, and settlements up to this amount in the event of a copyright claim. Creators frequently use this license type for social media, sizzle reels, tutorials, video essays, and similar projects. This level of coverage comes with the Individual License item price.

Business License: offers even higher indemnification coverage, up to $250,000. Companies and corporations frequently choose this license for TV broadcasts, regional advertising, and similar projects. The cost of this coverage is the item price + $149.

Premium License: offers the highest protection, up to $1 million. Major production companies and ad agencies often select this license for content going into feature films, national advertising, and similar projects. The cost of this coverage is the item price + $299.

Custom licenses are available if you think your project may require even more indemnification. Check out Pond5’s Guide to Royalty-Free Licensing to learn more about different licensing and media usage types.

Teenage Blogger Editing Video by dragonimages

 

Determining the Right Indemnification Level

The choice of indemnification level often depends on the nature of your project and its intended audience. It’s essential to consider the potential risks associated with your project when making this decision. Many businesses require indemnification for stock media as a legal requirement when producing new work. Therefore, it’s vital to assess your project’s scale and potential exposure when choosing the right level of coverage.

 

Common Questions and Concerns

Buyers often have questions and concerns regarding indemnification for stock footage. If you are in this situation, just contact a helpful Creative Partner who will happily address any questions. Whether you need assistance with the license selection process or have specific questions about indemnification, Pond5’s dedicated team is ready to help. You can also fill out a consultation request form for additional support.

Female Writer Typing Using Laptop Keyboard At Her Workplace In The Morning by undrey

 

Conclusion

In the ever-evolving world of video editing and production, stock footage increases efficiency and saves time and money. So, understanding indemnification is essential. It provides a safety net for buyers in case of a copyright claim, ensuring that your creative projects can proceed without fearing legal challenges. Pond5 offers robust protection for its users, making it a trusted choice for stock footage licensing. Whether you’re a seasoned video editor or just starting as a content creator, remember that Pond5 has your back with its commitment to indemnification. Create worry-free, knowing that your projects are protected!