Link to article
At its core, the idea is useful and makes good business sense. Google is scanning "orphan" books--that is, books with a copyright--from libraries and making them available on line. Although the copyright for the books still exists, the author and maybe the publisher don't any more. The books are typically out of print.
Now, as part of the resolution of a lawsuit, Google is allowing authors whose works are included in their collection to opt out. If the authors claim their work, but don't opt out, Google gets 37% of whatever revenue the books generate, with the author and publisher getting the rest.
The issue exists for the works for which authors don't come forward. Based on the Times article, only Google would have access to those works, and it would hold a virtual monopoly over them. Universities are concerned that virtual monopoly would result in abnormally high prices for access to the works. (The article didn't mention what might prevent another company, such as Amazon from scanning the books the way Google had.)
As the digital tidal wave moves through publishing, this won't be the last time we read of issued like this one.
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