I don't have official documentation on this, but as far as I know, it is still completely ILLEGAL to upload copyrighted intellectual property, but it is legal to download it, even software.
HOWEVER, in the case of software, if it is 'hacked, cracked, or you are sharing a serial key', then it IS illegal. In the case of movies, it is the same as making a VHS copy and giving it to a friend, yes it is "illegal" to make copies, but unless you do it on a large scale, no one is going to care too much. The court fees are too high to be viable.
Now, if you have a HD full of music and videos that you are sharing with the world, then you might have something to be concerned about. The large-scale uploaders are the ones who are being prosecuted, and rightly so (in my opinion). I freely admit that I download music and movies. I also buy more music now than I ever did before. And the artists I buy are about 95% "emerging" artists who I would NEVER have heard of if it wasn't for peer to peer sharing networks.
And being that my wife is the lead singer in an independent rock band (somewhat akin to Evanescence), I am keenly aware of the impact of p2p sharing. For emerging artists, there is nothing more effective than p2p sharing with respect to market exposure. 20 years ago, being heard in Sweden would have been nigh on impossible without serious capital outlay. Now, its as easy as putting a CD ISO file on a bittorrent sharing network. p2p sharing has been 100% positive for my wife's band.
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