The Internet has changed just about everything we do. B From advertising and marketing, to shopping and communicating, the Internetbs ever increasing capabilities are a marvel to behold. B They have allowed large segments of people and businesses to compete successfully with more established and much larger corporations.
I recently attended an event on the legal aspects of doing business in cyberspace, sponsored by AYPA, Aspen Young Professionals Association (www.aspenypa.com). B Attorneys from Garfield & Hecht PC expounded on the pitfalls of doing business on the Internet, and the effective approaches B you can take from e-commerce.
E-commerce can be a blessing– but if youbre uninformed about the intricacies of the processes–it can be a terrible curse. B Letbs first look at some advantages of e-commerce:
- Cost of advertising
Advertising online not only costs much less than conventional advertising, you can literally get more than you pay for. Since online advertising is mainly focused on performance based payment, your Return On Investment (ROI) is sure to be far better when compared with offline advertising.
- Wide Market Reach
The cost of advertising can have a direct impact on the number of people and markets you reach. The Internetbs reach is significantly large–vast enough to reach people and potential customers you never dreamed possible using more conventional methods of advertising. B The Internet is the biggest and most versatile medium for communication, so it is instrumental in reaching your target audience.
Of course there are a few pitfalls inherent in conducting business in cyberspace. B Some of the most vital include legal issues and identity. Two important items are:
- Client Privacy and Information Protection
A vitally important concern when engaging in e-commerce has to do with client information, and establishing procedures to protect it at all costs. B Procedures must be implemented in order to secure customer information, intellectual property, and financial data to prevent its misuse. B This directly leads into the second important item:
- Identity Theft and Internet Fraud
There is great potential for theft and fraud–especially if those aforementioned policies protecting client information are not implemented securely. B Companies or individuals who choose to conduct business in cyberspace must adopt policies to protect themselves and their clients from fraud.
If youbd like to view this informative and detailed presentation, you may do so at the Garfield & Hecht website.