Before the Supreme Court's 2006 decision in eBay Inc. v. MercExchange, L.L.C., which ruled that courts should exercise equitable discretion when considering whether to issue permanent injunctions in patent infringement cases, courts routinely granted injunctions in copyright cases when plaintiff's proved that defendants had infringed or had likely infringed copyrights. Such findings triggered presumptions of irreparable harm, which were almost never rebutted. Only rarely would courts consider a balancing of hardships or effects of injunctions on public interests. In the first several years after eBay, commentators reported that eBay had had little impact on the availability of injunctive relief in copyright cases. However, after a key Second Circuit ruling in 2010 concluded that eBay requires plaintiff's to prove all four factors and that eBay had overturned presumptions of irreparable harm, courts have dutifully followed the dictates of eBay and have more frequently denied injunctions in four types of cases: (1) when copyright owners failed to offer persuasive evidence of irreparable harm and/or inadequacy of legal remedies, (2) when a balance of hardships favored defendants, (3) when public interests would be better served by denying the requested injunctions, and (4) when the plaintiff was seeking to vindicate non-copyright interests. While injunctions are still quite common in simple piracy cases, eBay has radically changed the injunctive relief calculus for copyright plaintiff's. Although numerous private law scholars have criticized eBay for its departures from traditional principles of equity, this Article explains why the post-eBay copyright rulings comport with those principles. It concludes that the eBay four-factor test has had, by and large, salutary effects on the exercise of equitable discretion in considering injunctions in copyright infringement cases. eBay notwithstanding, there are numerous reasons why courts in copyright cases continue to be reluctant to grant damage-only awards. After eBay, courts have eschewed categorical pro-injunction rules and induced them to carefully tailor copyright infringement remedies. TABLE OF CONTENTS Introduction 777 I. Pre-Campbell Case Law on Injunctive Relief 780 A. Unreasonable Delay and Triviality Defenses to Injunctive Relief 782 B. Substantial Investments in Non-Infringing Elements 783 C. Difficulty in Fashioning an Appropriate Remedy 786 D. Mixed Views About Injunctions in Close Fair Use Cases 788 E. Aftermath of the New Era Decision 795 II. The Evolution of Injunctive Relief from Campbell to eBay 798 A. The Campbell Decision and Its Note 10 799 B. The Modest Impact of Campbell's Note 10 on the Availability of Injunctive Relief Before eBay 802 C. Other Public Interest and Balance of Hardships Rationales for Withholding Injunctions Pre-eBay 807 D. Withholding Injunctions in Disputes Over License Agreements 812 III. The Impacts of eBay on Injunctions in Copyright Cases 813 A. eBay v. Merc Exchange 815 B. The Slow Demise of the Presumption of Irreparable Harm 819 C. Post-eBay Cases Denying Permanent Injunctions Despite Infringement 823 1. Failure to Prove Irreparable Harm and Inadequacy of Legal Remedies 824 2. Balance of Hardships Tipping to Defendants 825 3. Public Interest Considerations 827 4. Administrability Considerations 830 D. Post-eBay Cases Denying Preliminary Injunctions 831 1. Failure to Prove Irreparable Harm and Inadequate Legal Remedies 831 2. Balance of Hardships: Considering the Effects of an Injunction on the Defendant's Business or Third Parties 834 3. Considering the Public Interest in Close Cases 837 E. Injunctions Remain Common in 'Simple Piracy' Cases 838 F. No Preliminary Injunction to Protect Non-Copyright Interests 840 IV. Reflections on eBay and Equitable Principles 843 A. Effects of eBay's Departure from Traditional Equitable Principles 844 B. Why Don't Courts Withhold Injunctions More Often in Copyright Cases'? 848 Conclusion 854, INTRODUCTION The Supreme Court's 2006 eBay Inc. v. MercExchange, L.L.C. ruling has had transformative effects on the availability of injunctive relief for intellectual property (IP) infringements. (1) That decision held [...]