Kathryn Cramer: Watermarking as a Strategy for Insisting on Corporate "Creators": Is DRM the Killer App for Corporate Authorship?:
My experience in the early-mid 90s teaches me that part of the purpose of setting the production standards of early CD-ROMs absurdly high was to promote corporate authorship over individual authorship with the idea that digital products could be authored like film and TV, not like books, thus empowering the executive level and disempowering the actual creators, or rather reconfiguring relations such that executives become part of the creative "team."
Now computers are being sold that allow individuals, and small groups of individuals, to produce works to very high production standards on very low budgets. This also threatens the rise of corporate authorship. So watermark-style DRM may do very little to prevent the "piracy" about which the big media corporations are up in arms, it may be the killer app of corporate authorship.