December 15, 2000

The Internet Economy has grown more rapidly than anyone could have envisioned even five years ago, opening up new vistas of communication, collaboration and coordination between consumers, businesses and trading partners. What started out as an alternative marketing channel has quickly turned into a complete economic system consisting of (i) ubiquitous, low cost communication networks using Internet technologies and standards, (ii) applications and human capital that enable business to be conducted over this network infrastructure, (iii) interconnected electronic markets that operate over the network and applications infrastructure, (iii) producers and intermediaries providing a variety of digital products and services to facilitate market efficiency and liquidity, and (iv) emerging policy and legal frameworks for conducting business over the Internet.

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