This article, from the viewpoint of economic analysis, first introduces article 65 of Copyright Law regarding the general provision of fair use doctrine and its economic viewpoints behind this theory. Second, it summarizes the content of 98 Nian-Du Ming-Zhu Shang-Z No. 5 judgment. Finally, it comments on the economic viewpoint in this judgment regarding “the theory of exemption of illegal” and provides more deep economic viewpoints based on three economic models, which are “market failure”, “interest balance”, “efficiency maximization”, for the foundation of fair use doctrine. Hopefully, it could make up the defects of imperfect reasoning in judicial judgment. This article also argues that the economic theory behind article 65 of Copyright Law should be the interest-balance model.