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According to the Recording Industry Association of America, you usually may make a backup copy of a CD for personal use so long as you own a legitimate copy of the original CD--but nothing specifically gives you this right. Also, you can transfer songs from a CD to your computer or portable music player, but not share them.
Even if you make a copy of a CD intended for personal use, you can do illegal things with it, such as giving it to a friend, according to the RIAA. In addition, you cannot make a backup copy and then try to sell it. Despite the toleration of "fair use" of backup copies, the RIAA still sometimes goes after people who make personal copies, according to the Washington Post.
As long as you burn a copy of a CD for your own personal use, it is highly unlikely that you will be prosecuted or face the possibility of a lawsuit, the RIAA states. However, make sure you own an original copy of the CD. Checking out a CD from a library or a friend, for example, and then ripping and burning it violates copyright law, according to The Columbus Dispatch.
Recording Industry Association of America: Piracy
Washington Post: Download Uproar: Record Industry Goes After Personal Use
The Columbus Dispatch: Copying library CD? You just broke law
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