It's not the Google owned YouTube that has been sued, but instead, the Google branded Google Video! After all my speculation last week about possible people who might try and sue YouTube, Google have been caught unawares and slapped on the bum with a fat fine. Without providing any further details, other than the nature of the case, Google disclosed the video copyright lawsuit in a filing, just the other day with the Securities and Exchange Commission. The date when filed, the amount sued for, who sued them and much more, is still shrouded in mystery, but it is expected that in coming days, another official announcement has been made. Also today, the Google CEO, Eric Schmidt, announced that Google, contrary to what mant news sites, including Profy were told, they have not set aside an extra $500 million to cover legal costs concerning copyright and content concerns on YouTube. A theory, explaining the reason behind there being no current claims of Google being sued, is that when YouTube was acquired, the Universal Music Group, Warner Music Group and Sony BMG were all given stakes into the company. This would theoretically pay them off for most of the damages caused and dissuade them from suing, due to the fact that they could gain by not doing so, through the site's progress online in upcoming years. The future of online media sharing hangs in the balance of the actions of certain individuals. No-one can be sure what surprise await just around the corner. What is sure, is that the suing will not be last. Many more are sure to follow, as has been the case since Microsoft was first sued, all those years back. via me on Profy.com.