The Guardian reports on the release of "A Review of Intellectual Property and Growth," the result of an enquiry commissioned by UK Prime Minister David Cameron.

What [report author Ian Hargreaves] has produced is a tough, intelligent and radical analysis of our current IP regime. "Could it be true," he asks, "that laws designed more than three centuries ago with the express purpose of creating economic incentives for innovation by protecting creators' rights are today obstructing innovation and economic growth? The short answer is: yes."

A serious revamp of intellectual property law, including the inevitable confrontation with the music and movies industries, is long overdue. Let's hope this report makes it happen.