In the digital age, the ability of the Intellectual Property Regime in maintaining the traditional balance between the interest of right holders and those of the public to access, enjoy and build upon innovation has been weakened even in developed economies. In third world Countries, The Digital Technology environment is practically unregulated. This scenario favours massive copyright infringements leading to losses in revenue and economic returns to authors, investors and the Government. Confirming that the IP Regime remains the best means of balancing the interest of stakeholders, this work exposes the defects in International and National Copyright Instruments, debunks the myth that the internet can not be regulated or that regulation can not go side by side with preserving the freedom of innovation and advances new legislative and institutional framework for sound regulatory regime. The work should be of immense benefit to authors, creative artists, producers, distributors, service providers, researchers, teachers, students, supermarkets, bars, the media, members of the public and the Government.