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Statutory damages are a form of legal remedy that allows a court to award a fixed amount of money to a plaintiff in a civil case, regardless of the actual damages suffered. This type of remedy is typically used when the actual damages are difficult to quantify, or when the defendant's conduct is particularly egregious. Statutory damages are often used in cases involving copyright infringement, trademark infringement, and other intellectual property violations. Statutory damages are also used in cases involving breach of contract, fraud, and other torts. In some cases, the court may award punitive damages in addition to statutory damages. Punitive damages are intended to punish the defendant and deter similar conduct in the future. The statutory damage market is composed of legal professionals, such as attorneys and judges, who are responsible for determining the amount of damages to be awarded in a case. Companies in this market include law firms, legal services providers, and other organizations that provide legal advice and representation. Show Less Read more