1. The court rejected IA's fair use defense, finding that its digital lending practices merely substitute for and do not transform the original copyrighted works.
2. IA's activities are likely to cause significant market harm to publishers' e-book and digital licensing businesses, which outweighs any public benefits of expanded access.
3. Allowing widespread unauthorized digital copying and distribution, even by a nonprofit, would undermine the fundamental purpose of copyright law to incentivize creative expression.
4. The ruling highlights the tension between expanding public access to knowledge and preserving authors' and publishers' exclusive rights over their works, which copyright law is meant to balance.
5. The decision sets an important precedent limiting the ability of digital libraries and archives to widely distribute copyrighted works online without permission, even if the intent is to increase public access.
-Kagi Sum