E-Business Ethical, Legal, and Regulatory Issues Paper

Essay by rhaskellUniversity, Master'sA+, March 2006

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In any business Model there exists an ethical code of conduct that is communicated internally and externally. Business is conducted in accordance with this ethical code. The company discloses its practices for business and eBusiness, and conducts its business in conformity with these practices. In just a few years, business use of the Internet has grown from a curiosity to a mainstream activity. We have seen pioneers in the industry lead the way, followed by numerous start- ups and ventures by traditional and smaller firms their still remains a transformation and the ethical, legal and regulatory aspects continue to evolve.

The Internet has created a lot of wealth and business value. It has also created opportunities to make large mistakes about the future of products, ideas, and companies. As organizations work on Internet strategies, thorough follow through is a key aspect in ensuring the ethical, legal and regulatory aspects are met.

The Internet does not provide anything like the obvious international boundary lines in the physical world. Thus, the four considerations that work so well in the physical world--power, effects, legitimacy, and notice--do not translate very well to the virtual world of eBusiness. Governments that want to enforce laws regarding business conduct on the Internet must establish jurisdiction over that conduct.

In terms of technologies, strategies, and applications that currently constitute eBusiness, all businesses are affected, including smaller manufacturers. Many companies are recognizing the importance of the changes that are taking place in this new digital economy, and they see the opportunities as well. But many companies are having trouble adjusting to the rapid changes, and they can use some help.

To compete in today's new digital economy, businesses must have a fundamental understanding of the Internet, information technologies, and eBusiness issues. Developing a fundamental understanding...