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Do You Always Own Your Own Private Property?
Visit the following website and answer the questions below: Editorial -- Reel History
This website explains how the Zapruder family through different companies has a 45-minute video for sale and this website gives the prices. (A History of the Zapruder Film )
After reading about the video the family and controlling entities are selling for $19.95, how many videos do you think the family will sell just in the US (260 million people)? What do you think the profit could amount to (total revenue - total costs)?
Does this change your opinion about how much the government should pay the Zapruder family for the original? Why or why not?
How many 45-minute videos do you think will be sold in the marketplace at a price of $19.95? Do you think a lot of money will be made?
The obvious answer is, you don't know. The only answer one can get from answering this question is what is the projected revenue. (Revenue does not equal profit.)
Profit = revenue - costs, as long as revenue is greater than costs. What costs are involved in making and selling a video tape?
Use an Internet search engine to obtain cost estimates for videotape duplication. The estimates will include items such as fixed costs, including salaries, factory, machinery, business license, and variable costs, including hourly workers, and supplies to create the video. Estimate advertising costs.
This website gives the definition of Eminent Domain .
List the pros and cons of the government taking property that wasn't originally owned by them.
What about building a highway or an easement? Should the government have the right to take this property if the individual doesn't want to sell it? The government has the right to private property through a law called "eminent domain." If it is for the good or safety of the public, the government has the right to take or purchase the property. One recourse that the private landowner has is to argue for the market value of the property through a court of equity. How much do you think the court of equity will award the Zapruder family? $18.5 million? $750,000? Or somewhere in between? Why or why not?
Update:
On August 3, 1999, the Zapruder family heirs were awarded $16 million for the film.
