LEGAL CONTROL OF INTERNATIONAL TRADE
LEGAL ISSUES IN RELATION TO SELLING ON INTERNET
THE IMPACT OF E-COMMERCE
A brief history about the emergence of electronic medium into the commercial transactions The concept of Electronic commerce (e-commerce) means electronic buying and selling on internet. The concept of e-commerce is different from e-business, which means any electronic transaction which subsumes e-commerce. The internet which was started in 1969 as the U.S Defense Department Advanced Research Projects Agency called the APRANET has now made the global e-commerce a reality. The actual process of e-business runs through conducting the business transactions electronically using technologies like Electronic Fund Transfer. These technologies appeared at first in the late 1970’s and it went on with the evolution of novel techniques like credit cards, ATM machines and telephone banking as part of e-commerce.
The further emergence of e-commerce happened in between 1998 and 2000 as the primary e-commerce websites were built out so as to facilitate business in Western Europe and United States. Then the companies such as eBay and Amazon which were launched in 1994 began to lead the way in e-commerce. Both eBay and Amazon were among the first to establish prominent e-commerce brands. The most prominent e-commerce categories today are computers, books, office supplies, music, and a variety of electronics. The effects of e-commerce in the trading world
The e-commerce business has numerous advantages over offline retail sales. Consumers browsing online stores can easily check for the quality products and compare the varied shops with just a few mouse-clicks. Even the smallest online retail sites can enhance sales and gain profits with a very simple online presence. Further the web tracking technology allows e-commerce sites to closely track consumer preferences and deliver highly individualized marketing to their whole database. While e-commerce is...