This is in response to your letter dated June 24th, 2015. Watermarks or notices of copyright are not required for an image to receive copyright protection, which is why customers with valid licenses do not have watermarks on their websites. If an image does have a watermark, it is removed when someone purchases a license. You can find the image here: http://www.trunkarchive.com/C.aspx?VP3=SearchResult&VBID=2P0UBHJEWRD1W&SMLS=1&RW=1600&RH=1115 Copyright exists the moment a photograph is created, and copyright registration is not a requirement of copyright ownership. We have contracts with contributing imaging companies and their photographers who own the copyrights in their images, and who represent and warrant that they are the sole copyright owner. Consequently, we do not require contributors to provide us with certificates of registration and leave the option of copyright registration to the individual photographer. Rights Managed content is priced and licensed based on usage, including how the image will be used, in what format, in what size, and for how long. Rights Managed content is also available for licensing with exclusive rights either by usage type, industry, territory, or combinations of all three (e.g., to prevent competitors from using the same image in a similar advertising campaign). This is high-end creative content that often has high-production costs, and is suitable for license by large corporations for major advertising campaigns as an alternative to custom shoots. The settlement demand is calculated by taking the average duration and average costs of licensing for that period and the pursuit of the infringement. Royalty Free Images are not the same as Rights Owned Images. We do not pursue statutory or punitive damages. The fees that are calculated in our settlement demands are based on actual damages and not statutory ones. While we leave the option of registration to each contributor, the calculation of actual damages does not change if an image is not registered with the US copyright office prior to the infringing use. This is an out of court settlement and since it has not gone to litigation, we are not required to provide contractual information regarding the photographer’s contract with the imaging company, the sales data for the image, the fair market value of the image, or the proof of registration of the image. Any information other than the Rights Holders Form (which I have sent to have signed) and the Power of Attorney cannot be provided outside of court. Samantha Clemens License Compliance Services on behalf of Trunk Archive P: 1.855.387.8725 E: lcs@trunkarchive.com 605 Fifth Avenue South, Suite 400 Seattle, WA 98104