That is the title of a paper I recently co-authored with former Secretary of Homeland Security, Michael Chertoff. We wrote it for the Global Commission on Internet Governance, a commission chaired by former Swedish Prime Minister Carl Bildt. Here's the introductory paragraph:
We stand on the cusp of a defining moment for the Internet, and existing trends, left unaddressed, might very well lead to the legal fracturing of the World Wide Web. This brief paper offers some thoughts on how this challenge should be resolved, concluding that multilateral agreement on a choice-of-law framework is essential to the continuing growth of the network. While such a framework may be difficult (some might say impossible) to achieve, it is clear that the current situation, in the absence of such a framework, is untenable in the long run and destructive of economic prosperity.
You can download the entire paper here.