Last November, the Prime Minister of the UK commissioned a review of the country’s intellectual property laws with a particular eye towards modernizing them in ways that would encourage growth and innovation in the internet age. This week, Professor Ian Hargreaves released his 123 page report detailing both the current issues with intellectual property law in the UK and his recommendations for change. (The full text of the report is available on the Independent Review of IP and Growth website.) Of note, the Report recommends creating a Digital Copyright Exchange to make it easier to clear copyrighted works and updating existing laws and “format shifting,” but does not advocate the adoption of the concept of “fair use” of copyrighted materials as is found in the US. The Labour Party has already voiced its support for implementing the Report’s recommendations.