Legal Issues-Business Law Essay Example | Topics and Well Written Essays - 750 words

Legal Issues-Business Law - Essay Example The medium of transaction in the online world may not satisfy the existing legal requirements like a contract should be in writing. Like in the conventional business transactions, there are concerns to regulate online commerce. However, the nature of traditional business and online commerce differ significantly. It is these differences that lead to legal issues to arise. The legal issues relating to online commerce is further compounded by the fact that the existing law is territorial. This implies that the existing law is limited in its application to the persons or activities within the boundaries of a region or a state. Unlike the usual business transactions, online commerce does not occur within the precincts of one physical location. It is crucial that the law should adapt to the online commerce needs, as well as respond to the differences between traditional commerce and online commerce. The law must adapt to online commerce realities by providing a clear guidance for parties engaging in electronic communication and online commerce. This is particularly important in simulating online commerce to reach its full commercial potential. I agree with the article that the law needs to evolve in order to address emerging issues in online communications and particularly online commerce. It is important that the law should be designed to accommodate the traditional aspect and online commerce as well. The book titled â€Å"Code† written by Lawrence Lessig provides insights into the whole concept of online commerce. In order to have a better understanding and its implications, particularly legal perspectives, this paper will highlight what is important in chapters 1, 2 and 3 of the book. In chapter one, the book provides historical background of the advent of online commerce. The chapter discusses the beginning of a new political society after the collapse of communism in Europe. It further points out to the fact that a