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If you serve that data to a client by a simple HTTP request it's publicly accessible. My guess would be that they could claim copyright over all material published on LinkedIn, which they probably do, however the fair use of that copyright would be the question.

Is the data still Linked In's once it leaves the server though? Hopefully the court will find that the answer is no.

In this case, it's a moot discussion. LinkedIn publicly disclaims ownership of the data.