It is common knowledge that intellectual property rights lie at the hearth of the global economy. But in what way exactly? The literature in the fields has burgeoned dramatically in recent years, and we have a surfeit of work that either focuses on narrow aspects or sweeps over broad legal regimes from the perspectives of particulars stakeholders. Here for the first time is a panoramic but detailed view of the world's intellectual property system that embraces socioeconomic, cultural and technological development in its scope, clarifying the pitfalls and challenges that the system presents even as it promises to improve the quality of life on our planet. The authors, both internationally respected and honored for their work in elucidating the economic necessity of an intellectual property system that can inspire universal confidence, emphasize the imperative of international competitiveness in knowledge-based technology. In their orderly presentation of the key issues that promote the real benefits (not yet achieved) of a truly effective regime of intellectual property rights they discuss such factors as the following: the use of intellectual property as an integral part of business strategy; optimal utilization of intellectual property assets; the development of skills and competence to manage intellectual property rights at every level; the incentives and rewards of "fair play" in the marketplace; facilitation of widespread diffusion and adoption of the fruits of creativity and innovation; the crucial role of small and medium enterprises; the need at every level for deliberate incentive policies that encourage creativity and invention; and strict enforcement of intellectual propertyrights. These issues and recommendations and more are all discussed in a framework that highlights each of the major areas of knowledge in which intellectual property rights are most insistently invoked today, such as the digital economy, e-commerce, Internet domain names, biotechnology, and nanotechnology. Ultimately, however, this outstanding work's most important contribution lies in its vision of the organic cooperation of governments, institutions, supranational organizations, multinational corporations, small and medium enterprises, and civil society as they collectively fashion a 21st Century in which creativity and innovation are enabled to convert knowledge into wealth and social good. For this reason, as well as for its richly detailed treatment of trends and current reality in the field, Intellectual Property and Competitive Strategies in the 21st Century will be read and put to good use by business people, international lawyers, government officials, and interested academics in all parts of the world.