Here’s the summary for the wikipedia article you mentioned in your comment:

Liquid Audio Inc was a US software company based in Redwood City, California. Formed in 1996, Liquid Audio developed a major standard, multiple software clients, and a client/server media distribution system for streaming and downloading audio on the Internet. Along with RealNetworks’ RealAudio (on the RealPlayer), Liquid Audio was one of the two emerging online audio standards in the 1990s. The company’s founders – Gerry Kearby, Robert Flynn, and Phil Wiser – focused on professional audio quality and copyright security to differentiate the offer. The company was a pioneer in enabling copy-restricted media distribution, working closely with record companies and publishing rights agencies such as ASCAP, BMI, The Harry Fox Agency, in the United States, and various other agencies around the world.

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