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With the progress of information and communication technology such as a PC, a digital camera, an MP3 player, and a cellular phone since the end of 20th century, the network-based participatory information producing model (NPIPM), through which lay people as well as experts take part in producing and distributing information, has been expanded as shown in the cases of free/open source software and wikipedia. Copyright has been reinforced against the threat to copyright holders, greatly caused by the widespread use of the Internet technology. This research issues different views on revising the existing copyright system by analysing the case of free/open source software and wikipeda, and examining their similarities. In short, it is recommended that the existing copyright system should accomodate the following characteristics: somewhat lightened copyright, more emphasis on moral right than economic right, and considerations on group-work based products. Some people argue that it is necessary to build a completely new intellectual property right system, which can support the NPIPM where the boundary between information producers and consumers becomes indistinct. They add that the new system will result in the rapid replacement of the existing copyright system. I believe, however, the current copyright system, which is more appropriate for the existing information producing model in industrial society, will last for the recent future. At the same time, it will accomodate a new trend in the network- based information society, which offers the better environment for the NPIPM.