The electronic age has kick started the information boom and with an everincreasing pace, it has begun to spread its canvas to engulf mankind as its greatest beneficiary andperhaps its most susceptible slave. This is evident from the universal phenomenon of copyrightedfile sharing culture promoted by P2P technologies. Indeed, the P2P architecture poses a threat to theentertainment and software industries which stand on the legislative guarantee of copyright laws.But technological advances have not only caused legislative obsolescence , but have also altered thedynamics of information exchange in the online environment. The word â€˜Stateâ€™ seems to have lostits meaning somewhere. Therefore, there is a pressing need on us, as an International society, todevise alternative solutions and approaches to substantially curb the abuse of digital copyrightedworks, for copyright laws to have any meaning. It is this global concern which gives birth to thispaper.