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Abstract

Digital Property and the Digital Marketplace Expenditures in the information technology arena indicate that digital property - defined as digitized information and the tools to use it - is generating astonishing wealth. Globally, expenditures in the information and communication technology markets exceed $1.8 trillion annually and comprise six percent (6%) of aggregate global Gross Domestic Product ("GDP"). By 1997, such expenditures had escalated forty percent (40%) over 1992 levels. Current spending on information and communication technologies is growing twenty-seven percent (27%) faster than the overall worldwide GDP, averaging roughly 5.5 percent annually. Technological innovations have become the primary engine of economic growth. For example, according to a 1997 government report, the technology market accounted for seventy-six percent (76%) of economic growth in France, seventy-eight percent (78%) in Germany, seventy-three percent (73%) in the United Kingdom, and fifty-five percent (55%) in Japan.

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