Google completely committed to Youtube

Slashdot It! Google is supposedly setting aside a US$500 million slush fund to cover copyright infringement claims likely to arise in connection with its YouTube.com acquisition. However, the rumor is not true, claimed Google CEO Eric Schmidt at the Web 2.0 Summit.

The company might want to reconsider that position. As it proceeds with its takeover of the wildly popular Web site that allows anyone to post videos about anything, Google is opening itself up to a new level of legal exposure.