Prepare corpus purchase records first; they are now part of the financing file. A copyright suit hurts a round through timing, destruction orders and founders' personal liability, while damages can be computed: the book case settled for $1.5B, 3109 dollars per work, only 2.07% of the statutory cap. This call is still in progress.
The mainstream view watches the damages figure. The diary starts from the offering calendar: applying the same ratio to the music side gives roughly two ten-thousandths of Anthropic's $965B post-money valuation, which barely moves valuation. What moves the window and the price range is a contingent liability that cannot be quantified.
On 8/28, 35 publishing entities of Sony and Warner sued Anthropic and named two founders as individual defendants (not the first such case). The book case settled for $1.5B over 482460 works; 3109 dollars per work is a gross figure and a price negotiated after liability was found. Scope note: the two cases are not comparable, and liability in this case is not yet established. Reconciliation on 9/25: no filing by the company itself on EDGAR; WSJ on 9/18 (as relayed by Investing.com) reportedly put the listing target at November, with people familiar saying it is unrelated to the litigation.
For founders: put corpus purchase records into the financing file rather than leaving them with legal. For investors: watch the order of the public S-1 filing date and the settlement date, and ask first about destruction orders and founders' personal liability, neither of which is priced per work.