I, along with my band, have used creative commons licenses for years. In my experience, it is a much more cost effective way to protect my intellectual properties online. We have always used the noncommercial/noderivs license on our material. While we want to be able to share our work for free with the public, we also want to protect our material from being used by outside sources.
This being said though, I realize that these licenses can be hard to police. Once something is placed online, it is pretty much there forever. So a good amount of the license seems to be based on using the honor system and hoping that people will respect the restrictions of your license.
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