How should the rule of information transactions be determined? This article suggests that it can be determined by two ways of approach copyright approach and contract approach. While information protected under copyright law has increased and license contract is closely watched as a way to use copyright works economically, copyright law and contract law is required to be in balance because license is ultimately performed through a contract. Besides legal consideration, it should be suggested that the impact of technological protection measures (TPM) in information transactions would continue to stay ahead of the law despite any ongoing legal legislation. Finally, this article points out that under such circumstances, law can take a role in regulating the terms and conditions of license contract and such values as the fair use of copyright law, consumer protection and privacy should be the standard of the contract regulating.