Actually, what you own is a license to use the music, not the music
itself, so you are limited by copyright restrictions. With that said, a
single copy for personal use is likely to fall under fair use. With that
said, you are on the edge when that single copy is to share with a friend
via email. And you are way over the edge if it is to distribute it more
widely than that.
Since this is for use in a multimedia project, you might get some
guidance from the Fair Use Guidelines for Educational Multimedia:
http://www.utsystem.edu/ogc/intellectualproperty/ccmcguid.htm
These guidelines apply to educational uses, but they should point you to
some significant limits for which non-educational uses are likely to be
more restrictive (totally restrictive if you are talking about commercial
use).
--David
--
David M. Marcovitz
Microsoft PowerPoint MVP
Director of Graduate Programs in Educational Technology
Loyola College in Maryland
Author of _Powerful PowerPoint for Educators_
http://www.loyola.edu/education/PowerfulPowerPoint/