At the May 1995 Membership Meeting of the Association of Research Libraries (ARL), a panel of experts offered four perspectives on strategies and public policy choices involved in defining the rights and responsibilities of copyright owners, users, and the libraries in the networked environment. These perspectives, and an additional paper originally delivered to the Association of American Publishers, are published together to stimulate and inform discussions within the scholarly community. Titles are: "Copyright, Public Policy, and Digital Libraries: Searching for First Principles" (Jerry D. Campbell); "Fair Use in an Electronic Age: A View from Scholars and Scholarly Societies" (Douglas C. Bennett); "Copyright, Libraries, and the Financial Viability of Scholarly Society Journals" (Catherine E. Rudder); "Coping with Copyright and Beyond: New Challenges as the Library Goes Digital" (Karen Hersey); and "Copyright Challenges for Libraries and Higher Education: The NII and the Texaco Decisions" (Kenneth D. Crews). Appendices contain: "American Geophysical Union, et al. v. Texaco Inc." (Sarah K. Wiant); "Intellectual Property: An Association of Research Libraries Statement of Principles"; and "Fair Use in the Electronic Age: Serving the Public Interest." (MAS)