This report covers a panel discussion on the Code of Best Practices in Fair Use for Academic and Research Libraries, published in January 2012 by the Association of Research Libraries (ARL). The panel was held at the Massachusetts Institute of Technology (MIT) on March 23, 2012, and was hosted by the MIT Libraries. Panelists were Patricia Aufderheide of the Center for Social Media at American University; Brandon Butler of ARL; Kyle Courtney of Harvard Law School; and Jay Wilcoxson of MIT. Following an introduction to fair use and the history of the Code of Best Practices, Butler and Aufderheide discussed each of the eight fair use principles in the document and took a number of questions from attendees.