The creative economy is a concept the significance of which appears to be in rise. Still one may wonder whether it is merely a new buzzword, a pipe dream, a policy catchphrase, or perhaps a pioneering concept, and even a rhetorical paradigm for the time we are living in. A major problem in the evaluation of the concept’s significance is that its precise meaning appears elusive. It appears elusive especially because it is rarely subject to a comprehensive effort of interpretation and more often interchangeable used with other concepts, such as the experience economy, the cultural economy, the information economy or knowledge based economy. Occasionally, it is merely defined as comprising the so-called “cultural or creative industries”. The creative and cultural industries are equally elusive concepts, particularly because of their dual or oxymoronic character, combining aspects of culture, creativity, and intellectual creation on the one hand with those of the economy, business, trade and commerce on the other. The creative economy has therefore rightly been described as an evolving concept requiring a multidisciplinary model for their successful approach. The very same conceptual difficulty also translates into a regulatory difficulty in finding the appropriate responses in the sphere of law. This is due to the problem that without a proper definition or agreed meaning of the concept of the creative economy, no adequate regulatory response can be formulated. An additional problem is that law itself is highly fragmented and divided in line with traditional disciplinary boundaries along the public and private, and the international and municipal law distinctions, which renders the formulation of a comprehensive, consistent, and coherent legal strategy difficult or impossible. This accounts for history’s repeated problem of political organizations failing to keep pace with their economic counterparts. Against the backdrop or drastic and rapid changes in the world of today and developments that might be aptly described by reference to the concept of the creative economy, it is therefore time for law to try to adapt and provide the appropriate solutions to the most imminent challenges. Perhaps, in this endeavour, the concept of the creative economy may prove helpful in rethinking some traditional approaches to law and policymaking and lead to the formulation of novel ideas about the proper instruments of regulation in the future.