Numerous other free-trade agreements exist in the world,most notably the borderless trade component of the even more encompassing European Union,as well as many more llrmted,goods-only bilateral agreements such as the 1985 United States-Israel Free Trade Agreement.These relationships have all developed under the umbrella of the Informati On Revolution,1960 to the present.Rapidly expanding technologies continue to have their own contribution to the possibilities and problems in international business and interna-tional business law. Consider the Cayman Islands,a dependent territory ofthe United Kingdom.ying in the Caribbean Sea.These islands of a mere 1 00 square miles possess virtually no natural re-sources·Its 34,000 inhabitants create an annual income on the island of US$1 billion.or more than$29,000 per head.while sun-seeking tourists are a major resource,it is the local existence of 40,000 companies,600 banks,and US$500 billion in banking assets that re-main its most lucrative source of income.The lack of taxation in the Cayman Islands and the existence of its highly developed corporate law structures create an attraction to base business.there,but lt is computers and communication resources that provide the infra-structure tor its continued existence.None of this would have been possible on such scale without the coming of the Information Revolution.Similar stories are played out in island states and geographically small nations around the world.