Competitive advantage in the international market of laws: the case of copyright law

Abstract

ABSTRACT This article identifies efficiency, certainty, and agility as essential facilitators of a copyright system’s ability to attract foreign direct investment (FDI) to the cultural and creative industries in today’s knowledge economy. The article further provides a set of principles and rules that enable these characteristics in copyright law. Whereas some of these copyright principles and rules are inherently compatible and, hence, can concurrently serve the efficiency, certainty, and agility of copyright law, the co-existence of some of them requires legislative and judicial balancing, as neither of them should defeat the purpose of the other. Furthermore, given the role that legal efficiency, certainty, and agility play in the sustainability of copyright law, legislatures should weigh these characteristics in the copyright law balance when enacting or amending copyright statutes. Courts also should consider these qualities when reconciling competing copyright law interests via statutory interpretation. Both types of balancing are necessary to ensure that the economic competitive advantage of copyright law does not prejudice its fairness foundations. From a business strategy perspective, firms in the cultural and creative industry may want to consider the efficiency, certainty, and agility of a copyright system when choosing their investment destinations.