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I knew that that my Communication Law class would NEVER come up again, but here we are.
The major thing that you need to worry aboutis whether the copyright owner will ever see or hear about your work. If the answer is 'no,' then is fall into the moral relm of you making money off anothers hard work (your choice).
If the answer is 'yes,' then you may want to prepare for a lawsuit. The copyright holder will have to prove two things to win: 1) that you had access to the copyrighted work (ie. movie, coloring books, photos at Disneyland) and 2) the the works are substantially similar. Now the wording is hard to pin-point if you would end up getting busted or not,; the judge gets to decide the meaning of substantially.
Fines can be hefty, and there have been reported cases of jail time. That said, don't let me discouage your venture. Now, if you do get yourself in a situation, you can you the 'fair use' defence. It has four parts 1) the purpose and character of the use of the copyrighted work; 2)the nature of the copyrighted work' 3) the amount and the substantiallity of the portion used; and 4) the effect of the use upon the the potential market or value of the copyrighted work.
If it were me, I would lean on the forth point. I mean, come on, are you really going to deminish the value of of the Disney band. I sure hope not.
Another justification would be that of 'parody.' But in this one you have to acknowledge that you are deriving a work from another. Your work has to be recognizable, but different enough that it is original.
**DISCLOSURE** I am not a lawyer. If you have questions about this, go ask a real one. I just have a degree in Mass Comm.
All that said, if I had a paying gig for artwork, I would risk the fines and jail time just to get my stuff out there.
Good luck.
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