The following excerpt is from Swatch Grp. Mgmt. Servs. Ltd. v. Bloomberg L.P., Docket No. 12-2412-cv, Docket No. 12-2645-cv (2nd Cir. 2014):
To evaluate whether a particular use qualifies as "fair use," we must engage in "an open-ended and context-sensitive inquiry." Blanch v. Koons, 467 F.3d 244, 251 (2d Cir. 2006). The Copyright Act directs that, in determining whether a particular use is fair, "the factors to be considered shall include":
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