Technological progress involves conflicting consequences for the owners of intellectual property rights. On the one hand, the scope of these rights is enhanced and new subject matter is protected. On the other hand, the effective exercise of rights is often hampered and sometimes completely undermined. It is therefore timely to take stock of the effect of technological change on the traditional formulation of intellectual property rights. In particular, the following issues need to be considered: (i) the goals of intellectual property protection, (ii) the present scope and duration of protection, (iii) the present challenges, (iv) the legal constraints on change at the national and international levels, and (v) strategies for the future, including the reformulation of existing regimes and the adoption of sui generis schemes.