The Benefits of E-Commerce Act of 2000

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The Benefits of E-Commerce Act of 2000
to Online Stores, Social and Advertising Networks

A Paper Presented to the Faculty
of the Graduate School
University of the Immaculate Conception
Davao City

In Partial Fulfilment of the Course in
E-Commerce
(1st Semester SY 2009-10)

Submitted by:
Julius L Soriano
Eldy Gwen C. Sunico

Submitted to:
Dr. Melquiades R. Hayag, Jr.

October 2009
Abstract

This paper was prepared to identify the benefits of RA 8792 or the Electronic Commerce Act of 2000 to online stores, advertising networks and social networks. These online entities are forms of electronic commerce (e-commerce) which is steadily and rapidly changing the landscape of doing business. However, the absence of government regulations somehow made the public apprehensive and wary about its reliability, integrity, security and accountability. After the Philippines passed the E-Commerce Act of 2000, investments in Information Technology projects greatly increased. Interest in electronic commerce is at an all-time high and companies have been forced to deal with the changes brought about by the New Economy.

Introduction

It has been said, time and again, that in this new age, success will depend less upon the size of an organization but the speed by which it can implement its plan and take the first-mover advantage. Andy Grove of Intel has also been quoted as saying that in five years all companies will be Internet companies or not be companies at all. With the advent of the Internet, almost every aspect of human endeavor is greatly revolutionized. The traffic of postal mails was immensely reduced while most of the traffic is redirected to electronic mails. People can easily tour the world virtually. They can purchase anything they want from almost anywhere in the world at the comfort of their homes. In fact, a lot of people who grabbed business opportunities presented by the new technology amassed fortunes. The Internet, being the backbone of the digital age, has gained considerable interests, not only among the millions of net users, but also among legal and policy stakeholders. Internet law continues to evolve as e-commerce dramatically flourishes. As more and more rules are being adopted and applied governing Internet activities, there is compelling need for the crafting or re-crafting of laws, policies and regulation, both in local and international levels, as digital technology continue to develop and re-define business models in the information economy. The road to creating a successful online store can be a difficult if unaware of e-commerce principles and the laws governing it particularly RA 8792 or Electronic Commerce Act of the Philippines. Researching and understanding the guidelines required to properly implement an e-business plan is a crucial part to becoming successful with online store building. Chapter I

Electronic Commerce (E-Commerce)

Electronic commerce or e-commerce is a term for any type of business, or commercial transaction that involves the transfer of information across the Internet. It covers a range of different types of businesses, from consumer based retail sites, through auction or music sites, to business exchanges trading goods and services between corporations. It is currently one of the most important aspects of the Internet to emerge. Ecommerce allows consumers to electronically exchange goods and services with no barriers of time or distance. Electronic commerce has expanded rapidly over the past years and is predicted to continue at this rate, or even accelerate. In the near future more and more businesses will move sections of their operations onto the Internet. Business to Business or B2B refers to electronic commerce between businesses rather than between a business and a consumer. B2B businesses often deal with hundreds or even thousands of other...
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