Web sites have moved from being a novelty to being a principal means by which businesses attract, communicate and transact business with their customers, suppliers and shareholders. Indeed, many businesses now conduct all of their business over the Net. Having a web site is no longer a matter of being with it.
Web sites are part of mainstream business operations and are key corporate assets.
The technology underlying the Web is new and continually evolving. Managers and even technical officers are unfamiliar with how the technology operates - they simply know what seems to work. A consequence of the evolution of the Web from novelties to key corporate assets in a very short time is that in many cases none of the procurement and management processes applicable to other key corporate assets have been created or applied. Thus, there is reason for concern. Ownership rights in web sites are created under the laws relating to intellectual property, including trademarks, copyright, patents and trade secrets.