The Harmonization of the Regulations in Ecommerce and IT with EU Rules
December 7, 2017 by Nebojša Stanković
Ecommerce is constantly expanding, so it comes as no surprise that investors are trying to capitalize on their digital sales channels. In these modern times, online purchasing suits basically anyone due to the power and convenience of the internet. Thus, this smart strategy enabled a whopping 81% of shoppers to research their product online before the actual purchase takes place.
However, there is something to be said about the ecommerce regulations and their agreement among the IT sector and EU laws. The embodiment of the globalization process in the legal regulation is mirrored in the “informality” of the arranged relations in the field of modern telecommunications, especially those which are quite practical, such as:
- Ecommerce business
- Internet – World Wide Web
It is a fact that these areas don’t possess boundaries and that they rely on communication at the global level. Therefore, this situation has created conditions which caused normative regulations to lose their archaic halo of sovereignty. The general rules of multinational companies dominate throughout this area, hence, national legislation can only support these established rules.
Nevertheless, as the field of investments primarily incorporates and needs the presence of corporations, this imposes a requirement to verify the applicability of general rules existing in these areas and within the legal system of each national legislation.
Moreover, Serbia lags behind significantly in the legal regulation of these areas. Still, it has not affected or had a major influence on direct investments in the IT sector, which are the most predominant investments in this field.
Although it seems confusing at first glance, one of the reasons for this occasion is the fact that investors, as the figure of legal form by which they establish their presence in Serbia, are defined and classified as a foreign legal entity, and thereby “avoid” the issue of potential conflicts of domestic and foreign laws.