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That's right, anyone can play any song live, but recording something and releaseing something could cause you trouble with publishing, it depends on the owners of the copywright as to how much it may cost, It might be relativley cheap if you are more unknown and not haveing huge distrobution, then if you where to re-release it on a larger scale some time in the future you would have to through it all again.
But if it's just for a demo, you could probably just go for it.
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