Do you copy me? (Intellectual property).

Intellectual property is a notion that has existed since the renaissance. The idea that the inventor of an idea, an artist, author or a composer can `own' (and thereby profit from) the fruits of his or her creativity is enshrined in a variety of laws around the world.

Unfortunately, once intellectual property exists in a digital form--whether computer software, books, music, video or still pictures--it becomes all too easy to copy. Digital copies are almost cost-free and suffer no loss of quality.

When DVD technology was launched the entertainment industry, concerned about potential copying, encrypted it so that DVD movies could be played but not copied. Inevitably it was only a short time before someone hacked the code and now you can freely download `DVD ripping software' and copy the movie.

When copying onto video or audio cassettes first became possible there were plenty of prophets of doom who forecast the end of revenues from music or films. Yet this has not happened because it does not cost much more to buy legal (nicely packaged) products than illegal copies.

Software producers are learning from this. The next generation of Microsoft Windows, for example, will be sold on a subscription basis: after a low initial payment you keep paying and get up-grades and customer support in return. Publishing and the entertainment industry might take a similar route. Instead of selling a once-only product, they may enter into a relationship with their customers so that books, for example, may be published in instalments on a subscription basis--possibly with regular updates based on customer feedback.