E-contracts. Essentials, variety and legal issues

Academic Paper from the year 2017 in the subject Law - Media, Multimedia Law, Copyright, grade: 75%, , course: Intellectual Property Law, language: English, abstract: The very rapid emergence of industrialization, globalization and technicalities formed a great basis for the growth of technology and the rise of this computer age. Electronic commerce is one of its products seeing that it is a major economic significance of the 21st century. Thus, internet is a new culture that has undoubtedly come to stay and while it remains, changes our own style. The wide range of activities performed with the use of internet has proven to outweigh the old-fashioned way of doing same activities. The creators of computer must not have imagined how super useful their creation stands globally today. The internet has a great deal of impact on business and its practices, local markets will be mostly replaced by global markets. This change will lead to new business models and of course, the birth of E-commerce. One of such E-transactions includes Internet contract, which is E-contract. In conclusion, the paper establishes that in all ramifications, electronic contracts have been positive enough to human living that it is now a do-without in our day to day living. At the same time, its venom cannot be overlooked. Like a wild fire, if appropriate measures are not taken, it will consume even the most advanced of men, and the very literate. Privacy issues are my most dreaded concerns. The authenticity to protect information is so uncertain and yet, so unavoidable in most cases. Laws should be appropriately reformed to suit into the already coming ugly face of electronic contracts and e-commerce in general. Consumer protection should be the springboard to foster these laws as the persons on the other hand will not have much to lose. While determining this, global expansion of technology should not be hampered or subdued as to becoming inaccessible for the common man.