“Publishers Sue Peloton for Use of Songs From Drake, Lady Gaga,” The Wall Street Journal, March 20, 2019. Allegedly, only some songs properly licensed.
Oops. You try to comply with the law in getting licenses from the right people, but fail. So you use their information improperly and face a suit for $150 million, right before your IPO.
Do you have controls in place (Governance) to make sure you don’t use copyrighted material without a license (if necessary)?