E-Commence and Legislation in the Modern World

The name of the game is a strategic positioning, the ability of a company is to determine emerging opportunities and utilize the necessary human capital skills to make the most of these opportunities through an e-business strategy that is simple, workable and practicable within the context of a global information milieu and make new economic environment. In the age of global economy, e-commerce and e-business have increasingly become a necessary component of business strategy and a strong catalyst for economic development. Here we have drawn our attention on E- commerce and it’s Legislation.

The e-commerce is a legal framework of a nation, which can play an important role in enabling and facilitating e-commerce transactions within the country and across its borders. Such legislation can create the much-needed sense of certainty, which is for traditional paper-based physical business transactions that are paper-based canto be carried out in the electronic realm. The foundation behind the formation of electronic contracts and the issues are relating to disputes over such transactions which are need to be examined in order to understand the legal framework for e-commerce in the world. E-commerce requires a discussion about the present legal framework, which is, provides the rules upon which electronic contracts are formed. There are also some evidentiary issues to be discussed in relation to matters of proof when it comes to disputes over electronic transactions. So, the question of what is ahead for e-commerce laws in world is considered.

With the developments in the Internet and Web-based technologies, difference between traditional markets and the global electronic marketplace-such as business capital size, among others-are gradually being narrowed down. The name of the game is a strategic positioning, the ability of a company is to determine emerging opportunities and utilize the necessary human capital skills to make the most of these opportunities through an e-business strategy that is simple, workable and practicable within the context of a global information milieu and make new economic environment. By the effect of leveling the playing field, e-commerce coupled with the appropriate strategy and policy approach enables small and medium scale enterprises to compete with large and capital-rich businesses.