Buyers and sellers meet online to engage in e-commerce. For example, using the internet to sell an old phone is an electronic commerce and buying a website online for a start-up company. Another example is buying products from an online retail store or creating a business website.
commerce (electronic commerce) is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network, primarily the internet. These business transactions occur either as businessto business (B2B), businesstoconsumer (B2C), consumertoconsumer or consumertobusiness.
The ecommerce industry is regulated by digital customer data privacy laws such as CCPA, Data Broker Registrations and GDPR among others. You must comply with the privacy laws applicable to your business in order to avoid potential legal penalties and reputational damages.
The Electronic Signatures in Global and National Commerce Act (E-Sign Act), 1 signed into law on June 30, 2000, provides a general rule of validity for electronic records and signatures for transactions in or affecting interstate or foreign commerce.
The Federal Trade Commission Act (FTCA) prohibits certain unfair or deceptive acts or practices in or affecting commerce. Other state and federal regulations govern the shipment of goods and the issuance of, or notices concerning, refunds.
In the United States, federal eCommerce law includes the 1996 Telecommunications Act, the 1998 Digital Mil- lennium Copyright Act, the 2000 Electronic Signatures In Global and National Commerce, and the 2003 Con- trolling the Assault of Non-Solicited ography and Marketing Act.
The WTO E-commerce Joint Statement Initiative (JSI) aims to agree common rules in areas including: enabling electronic commerce; promoting openness and trust in e-commerce; cross-cutting issues; telecommunications and market access for e-commerce firms.
The UETA and E-SIGN Act have now legitimized the ability of parties to form contracts electronically both at the federal and state levels.