To all those who are wondering about Cavan; its a getty shell corporation! let me shed some light on the subject of what they most likely stand for. Adam Sternin wants to do to the stock photo industry, what jeff vespa did to the wire service service industry which is more money and power for the corporation and less for the hard working photog. So im willing to bet that the cavan contract is simply a rewording of a getty contract.
What PNC, Amfoto, and Karl have said is true they are looking for unknowing and unwitting; skilled or adv amateur photogs to send them not high res jpgs but the raw file size images and for this format you sign away all future copyrights but they are going to give you $50 and will send you a retouched image that you can use for self promotion and fine art uses only. and if you deviate from the self promo or specifically designated fine art uses expect to hear from their lawyers.
Karl made a good point "I see a lot of money going out, but am not seeing where the money is coming in." So for adam's claims that cavan isn't part of getty, then who is bankrolling this privately held company?
And in case anyone was wondering here is adam's work history for the past decade
2008-present: President at Cavan Images 2005-2008: Art Director at Getty Images ,oh and before that he worked for getty corporate stock image company photonica.
NAH, cavan has no ties to getty they only shill cavan stock images. probly for at least 6 -10 times what they paid for it. and since they bought the copyright outright for the large sum of $50 they can re-license it as many times as they want!!!