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Copyright and Transformative Fair Use

Patently-O

Warhol’s Estate argues that the artworks represent a commentary on the dehumanizing nature of celebrity whereas the Goldsmith photos merely reflect Prince in his unique human form. Although Andy Warhol is dead, his art, legacy, copyrights, and potential copy-wrongs live on. Court of Appeals for the 2nd Circuit has held).

Fair Use 134
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The clash of artistic rights: Warhol, Goldsmith, and the boundaries of copyright in Brazil and in the U.S.

Kluwer Copyright Blog

In 1984, Condé Nast, the publisher, obtained a license from Goldsmith to allow Andy Warhol to use her Prince portrait as the foundation for a single serigraphy to be featured in Vanity Fair magazine. In 2016, Condé Nast acquired a license from the Warhol Foundation to use the Prince Series as illustrations for a new magazine.