See assignment criteria Essay Example | Topics and Well Written Essays - 1000 words - 1

See assignment criteria - Essay Example In case of Ruritania, the potential of e-commerce is unlimited and will be very beneficial; however, it brings with it a number of legal issues regarding intellectual property, privacy, customer protection, copyright, etc that the government should focus on to ensure continuous growth of e-commerce in the country. However, this process of introducing and implementing new laws and strategies related to e-commerce will not be easy, and thus, the government should prepare itself to confront different challenges in this process due to the international nature of the internet and e-commerce. In this regard, the foremost requisite to ensure e-commerce growth will be to take global and diversified perspective while creating new strategies and regulations (Wimmer, 2003). It has been an observation that regulations and laws focusing only local stakeholders often result in negative outcomes, which the government of Ruritania will have to avoid during the process of alteration of laws and regul ations related to e-commerce. One of the most important concerns that the government of Ruritania should focus on is the application of copyright on digital content, as well as application of national regulations in the cyberspace. Additionally, some other issues are privacy of customers and consumers on the internet and level of security in the electronic commerce. Most importantly, taxation on the cyber trade has been one of the most crucial concerns related to e-commerce globally. Studies (Wimmer, 2003) have indicated that while creating laws and regulations related to the e-commerce, one of the major confrontations is the application of regulations in cyberspace environment, which creates the process a very complex one. In this regard, it will be very imperative for the government of Ruritania to consider broadest range of possibilities. For this reason, in order to consider every perspective, it is advisable that the government should share the proposed legislations and strateg ies with local, as well as international stakeholders, as their approval will be crucial to encourage e-commerce activities in the country, and their discontent may result in adverse outcomes. In other words, consensus of the government officials, as well as the other stakeholders will ensure effectiveness and success of the legalization process that many countries avoid and face adverse results. To begin the process, the Electronic Transaction Act (Smith, 2007) will be the basic and essential regulation to resolve existing legal issues in Ruritania and it will be an efficient way of authenticating electronic transactions in the country. Specifically, this act will enable contractual transactions, such as offers and acceptances in the cyberspace. Additionally, the act will enable customers to fulfill the legal requirements by using their electronic signatures that will resolve a number of legal issues in the e-commerce arena of Ruritania. Consequently, it is anticipation that the El ectronic Transaction Act (Smith, 2007) will increase electronic commerce activities in Ruritania by ensuring efficiency in the cyberspace. Moreover, business organizations will also be benefiting from this act due to reduction in managerial duties and operational costs after its introduction. Besides the act, another suggestion is to ensure compliance of laws and regulations by all the service providers and stakeholders involved in the