Internet is changing business models on daily business operational practices from brick-n-mortar constructs to digital information transfers, from a letter or phone call to a “textmail” or “e-mail.” The process has brought a down scaling in what used to be large administrative organizations to efficient self-employed entrepreneurs. The latter is the future and it is vastly growing.
The digital economy distinguished simply by how information transfers, is allowing broader landscape of customers beyond national borders. As the Internet is changing business models, it is as well affecting the immediacy of starting up a business is remarkably a day-to-day phenomenon in varied services.
Internet law lawyers without business sense will find it difficult to address the plethora of issues emerging in the digital economy as the internet is changing business models.. Knowledge of where government policies are deficiently addressing this growing entrepreneurial mode is a must for the internet law lawyer. International law quickly becomes an integral aspect of many issues in the digital economy. Regulators are behind the eight ball addressing how to foster the continual growth of the self-employed and small enterprises in the digital economy. The confusing regulations and requirements that usually are applied to brick-n-mortar businesses require revisiting for the digital based enterprise.
The prevailing aspects in the digital economy is the exponential growth of entrepreneurs, the sharing economy, and the on-demand aspects of the economy. With that, the landscape is replete with differing consumption models affecting lending to becoming more social, services becoming peer-to-peer, as well as task performance. The eCommerce business environment is fast and furious and exciting to all desiring to venture. Policy makers must tighten their belts for the ride that is already transforming economies of scale, methods of innovations, and the individuality aspect of the digital economy.
Lorenzo Law Firm, P.A., Copyright 2015