of the Coase theorem. Ronald Coase theorized that when transaction costs are very low, the initial allocation of rights is not important from an efficiency standpoint because those persons who know how to put a resource to use in the most productive way will simply purchase the right or the resource from the person who has it because the person who knows how to put a resource to use in the most productive way will be willing to pay more than any other person in order to purchase this right. The corollary of this theorem is that when transaction costs are not very low, it is important that the first allocation of the copyright be to the person who can make the most productive use of it. Otherwise, the person who knows how to put a resource to use in the most productive way will probably be deterred by the high transaction costs from purchasing that right. This logic may apply to rights such as copyright. An analysis in terms of Coase's theorem might determine that the rule from section 13(2) is more efficient than the rule in section 13(1) when it comes to products such as wedding photos because it is likely that people who purchase wedding photos will want to make copies. If the copyright is vested in the photographer, then the client would have to ask for permission each time they wanted to copy one of the photos or give a photo or a copy to another person. Each of these requests would create a transaction cost which would decrease the efficiency of exchange and possibly make it more difficult for the person who places the greatest value on the photos to control the copyright. Section 32.2(f) can play an important role in reducing these transaction costs. The Coase theorem applied to section 13(2): Asymmetry of information There is also a second reason why section 13(2) would be more efficient then section 13(1) for items such as wedding photos. This reason is that there is probably asymmetry of information between the photographer and the client, meaning that the photographer is probably aware of the copyright rules while the client is probably not. Under the section 13(2) rule, because the client is initially vested with copyright, the photographer has to ask to buy the copyright from the client if the photographer wants the copyright. In the course of