Commercial Law Infrastructure for the Age of Information, 16 J. Marshall J. Computer & Info. L. 255 (1998)

Authors

Michael L. Rustad

Abstract

The Uniform Commercial Code is a product of business practices and social change. During the last two decades, the United States has transformed from an agrarian economy into an industrial power. Recently, the United States has transformed again into a post-industrial society predicated upon the copyright industries. Article 2 of the U.C.C. was drafted more than fifty years ago before the rise of the software industry and the Internet. The proposed Article 2B of the U.C.C. will recognize the new copyright industries and provide a commercial law tailored for the transfer of data, text and other forms of information. The United States economy now centers on information content and services, which will be affected by the proposed Article 2B. Article 2B may emerge as the most significant law reform of this century by providing a legal infrastructure for the age of information. If enacted, Article 2B will provide uniform legal rules for the core of our information economy. Article 2B will cover films, entertainment and software which are "either the largest sector of the modern economy or the second largest." Article 2B is a significant reform of the law that will encourage further expansion of online licenses, access-contracts and other innovative commercial practices in the age of information. The adoption of the proposed Article 2B will modernize and bring greater certainty to the information law that governs the transfer of rights in information.

Recommended Citation

Michael L. Rustad, Commercial Law Infrastructure for the Age of Information, 16 J. Marshall J. Computer & Info. L. 255 (1998)