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Is it legal to stream live video of a public place (i.e.: grocery store or a restaurant) to the internet and profit from it via subscribers and/or advertising?
A grocery store or restaurant is a place open to the general public but is not a "public place" - it's actually a private place. The store owner either owns or rents the property and has rights to exclude the public from the premises should he/she so choose. They may open it to the public under certain conditions, one which may be to get a cut of exactly what you're hoping to do. With regard to a city street, that's a different story but we're talking about city permits versus a property owner's rights.