Both the statutory laws as well as the challenges in implementing them will be attempted.
The paper shall also list specific policy changes aimed at bringing improvement to the legal and regulatory environment affecting e-commerce.
Presumably, when speaking of Information Technology (IT) as a whole, it is noted that the use of computers and information are associated.
Globalization has brought in many changes in the business scenario with the whole world inching towards one big market place.
When computer and communications technologies are combined, the result is information technology, or “Info Tech”.
Information technology is a general term that describes any technology that helps to produce, manipulate, store, communicate, and/or disseminate information.Communication between the buyers and sellers has become critical as each can opt to explore a greater number of alternatives than ever before.E-commerce through Internet, e-mails, websites, and other facilities, enables a businessman to be linked with every corner of the world, and thus opens up greater opportunities in the world market.Hence, the regulatory environment is at the core of e-Business development.This paper aims to highlight the status, statutes, potential and constraints of e-Business.However, at a more fundamental level, the term e-Business also describes the application of information and communication technologies to business processes in all sectors of the economy to reduce costs, to improve customer value and to find new markets for products and services.B2C: Business to Consumer communication is the one type of e-Business communication where selling takes place to members of the public.The main objectives of this report is to discuss the status, potential and constraints of e-Business.All this activities are done by Information Technology which are used in International Business at the present time.The information technology based business facilitates the very process of international transaction; this involve securing and finalizing a contract, delivery of the product, and finally payment for performance of the contract.The movement of goods and services, as well as the payment mechanisms within a country and more so outside a country, are governed by regulatory and legal issues.