Drastic changes have occurred throughout the past century and the world community is struggling to find the exact concepts to describe, understand and, possibly, govern them. One of the concepts used to describe these changes is the so-called “creative economy”. Even though the concept is becoming more frequently used, it lacks a precise definition and its meaning remains elusive. Moreover, the proliferation of related concepts, such as the “experience economy”, the “cultural economy”, the “knowledge-based economy” and the “creative and cultural industries”, further obscures its precise scope and meaning. These concepts are, however, no less elusive, particularly because they are of a dual or oxymoronic character, which variably combines aspects of culture, creativity and intellectual creation on the one hand with those of the economy, business, trade and commerce on the other.

In sum, the conceptual uncertainties also translate into major difficulties in finding appropriate regulatory responses in the sphere of law. The aim of the present article is therefore to cast light on the meaning of the concept of the creative economy with a view to paving the way for its better and more efficient regulation in the legal sphere. To this end, the first part offers a comprehensive interpretative analysis of the “creative economy” with a view to establishing its value to the present global governance debate. Based on the evidence that designates the creative economy as an evolving concept requiring a multidisciplinary model for the formulation of an adequate approach in law- and policymaking, the second part discusses some of the creative economy’s major implications in the sphere of law. In this regard, several regulatory examples appear to advocate the abandonment of the conventional in favour of a more holistic method of regulation. The article concludes with some recommendations that are deemed useful for further debate and research in this area, which ultimately may contribute to the formulation of the kind of creative laws that are needed for the successful regulation of the creative economy in the future.