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What are the Copyright Laws for Karaoke Music?

Can anyone please help me with the basic laws for using Karaoke tracks? We are a small karaoke group and we have been sharing karaoke tracks with each other (FREE) is it legal?
Also, if I want to do the same on web and upload various karaoke tracks to share with members only, give credit to the karaoke cd maker, will we be violating any copyright laws? Appreciate assistance and guidelines.

It is illegal for you to give a copy of a karaoke disc, that you have purchased, to anyone. It is also illegal to share song tracks ripped from commercial karaoke discs. If you try sharing karaoke tracks on a web site you will most likely be shut down very quickly and may even be prosecuted. Read more about this subject at http://www.karaokeantipiracyagency.com/faq.html

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