The Serious Year 2000 Problem A serious computer problem, variously known as the “Year 2000,” “Y2K,” “Century Date Change,” or “Millennium Bug” problem, faces many companies. This report is intended to provide a summary discussion of some of the major legal issues that may arise due to the Year 2000 problem. The Year 2000 problem arises because most business application software programs written over the past twenty years use only two digits to specify the year, rather than four. Therefore, on January 1, 2000, unless the software is corrected, most companies with time-sensitive software programs will recognize the year as "00" and