Electronic commerce

From The IT Law Wiki

Electronic commerce (e-commerce) refers to business processes which shift transactions to the Internet. Unfortunately, there is no generally accepted definition of the term. Some definitions imply use of the Internet only, while others define it more broadly to include transactions that involve devices such as fax machines, telephones and any computer-based system. The term generally encompasses transactions arranged over the Internet but delivered in physical form, as well as digitally delivered commerce.

Electronic commerce has delivered enormous benefits for consumers. Prices have dropped due to the ease of Internet comparison shopping. The marketplace has expanded as barriers to entry have diminished and buyers and sellers easily link up through websites such as eBay. And transactions are now quickly and conveniently conducted from a home computer, without the hassle of waiting in a line, holding on the telephone, or mailing a check.