Electronic commerce is transforming the way modern business is being conducted and is leveraging international market forces for the benefit of consumers. The volume of e-commerce reached $301 billion last year in the U.S. market alone, according to some estimates. [FOOTNOTE 1] Market analysts have projected that by 2003, e-commerce will produce revenue in excess of $3 trillion. [FOOTNOTE 2]
From the vendor/service providers’ point of view, Internet-based e-commerce is a race to attract customers so as to obtain a defensible, entrenched position in cyberspace. A strategy of early market dominance and continued legal posturing is necessary to lead the race and maintain an advantage in this virtual world with real consequences.
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