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Copyright that has expired, was never assigned, or was intentionally abandoned, is referred to as public domain. Exclusive intellectual property (IP) rights no longer apply. Music in the public domain can include compositions, sound recordings, or sheet music.
Artists are able to collect royalties for their use of a public domain composition by listing themselves as arrangers (not composers). Most income sources will not pay 100% as if it were an original work. For example, SOCAN pays 25% of the full performance royalty.
Before recording a public domain arrangement, it is vital that artists confirm the copyright status of the song to ensure it is in fact public domain.

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