Set forth is a system and method for administering electronic markets which include encrypted electronic content. The system provides access to a communication network having an electronic server system configured to permit communication among a community of users, where the server system is used to host the electronic markets. A distributed configuration and administration system permits any authorized user of the community of users to have the capability of configuring and administrating electronic markets. A set of access permissions control which users of the community of users have access to electronic markets, and a set of usage permissions control the use of content contained in the electronic markets. A set of management permissions control which users of the community of users can manage the access and usage permissions for markets and content.