For the past three decades, the world has been transformed in ways that could scarcely be imagined in the middle of the 20th Century. The information technology revolution -- driven in large part by astonishing innovations in software -- has provided tools that have transformed the way we live, work, and play. The Internet has opened doors to new worlds of instantly accessible information. Technology devices have become commonplace even for workers in traditionally non-technological fields. The exhilarating pace of this change has left us rightfully optimistic about the 21st Century.

At the same time, we recognize that we will face significant challenges in the coming years. Continued global innovation -- and the software industry’s ability to contribute -- will be tested by a number of developing challenges including a growing disrespect for intellectual property, trade barriers and cyber crime. Overcoming these challenges will require new strategies and policies that emphasize partnership between industry and government, and that recognize when action is necessary and when markets should be allowed to work.

The future of the Internet, software innovation and a healthy e-commerce marketplace will largely be shaped by how companies and policy makers around the globe address several key issues. The essential elements for a robust, competitive and innovative technology industry include: