E-commerce

E-commerce simply put is commerce on the internet.Every law that applies to a transaction outside the ambit of internet would also apply to ecommerce transactions with an added focus on privacy. India’s journey into E-commerce has grown with an unexpected alacrity. The software industry body NASSCOM shows that India’s online market share grew at the rate of 19 percent last year and will touch an estimated US$33 billion in 2017. The Walmart-buyout of startup Flipkart was another example; this unprecedented deal is the biggest in the e-commerce world, with Walmart having acquired a 77 percent stake in Flipkart. The legislations covering the E-commerce business are the Information Technology (IT) Act of 2000, while other aspects of online businesses are covered under laws such as the Payment and Settlement Systems Act of 2007 and the Consumer Protection Act of 1986 amongst others. The vast number of Electronic business transactions/cashless transactions has brought with it the need of strict legislations. Digital payments have innumerable details surrounding it such as electronic consumer transactions, which include payments for goods and services that are made over the internet, mobile payments at point-of-sale (PoS) via smartphone applications (apps), and peer-to-peer transfers between private users. e-commerce draws on such technologies as electronic data interchange (EDI), electronic funds transfer (EFT), enterprise resource planning (ERP), online marketing, customer relationship management (CRM), data mining and data warehousing etc digitalization and multilevel networking. China is looking to secure intellectual property rights as it evolves from the world’s bootleg hub to top patent owner. The new e-commerce law looks to rid online sales platforms of fake goods and clean up the country’s reputation as a major source of knock-off merchandise and provides a formal framework for the notice-and-take-down procedures that already exist on most e-commerce platforms, our team has conducted more than 500 anti counterfeiting raids and successfully acted as a deterrent for our Client’s.

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