Subramaniam Vutha Advocate svutha@svutha.com Key concepts LAN WAN Internet WWW Cyberspace Law of cyberspace Comparison with The automobile highway Aviation Web 2.0 Speed Reach Connections Options and implications
How does the law come in? Technology does what technology can
Technology is not concerned about rights, limits, obligations and remedies [from the knife to space exploration]
But the law is about all these Real life; virtual life All these have shifted to Cyberspace: Work Play Interact
And each of these has become a business
You are already in cyberspace Banking Entertainment Email Filings Electronic signatures Knowledge sharing or accessing. Google gets you going A slow quiet revolution. Inversely proportional to age Makes history and heritage a burden sometimes But can the Internet keep the law out remember the Declaration of Independence of Cyberspace IMPLICATIONS FOR BUSINESS Demand for corporate transparency rises Ability to provide disclosure zooms Going concern concept dying? New threats to old businesses? Why your newspaper looks more like a TV and a website? Typists at the top B2B, B2C, C2B, C2C, P2P .
More implications
Share markets recognize knowledge; MS and Intel v/s Ford, GM, Boeing, Kodak, etc etc.
The Death of Distance?
Companies are already virtual entities. Now businesses are becoming virtual? HYPE vs REALITY Global village? Borderless world? More countries [ 1950 58, 1999 -185 at UN] Finance flows, goods move, people fly, paperwork grows. So do viruses. Data is shared/strewn, information is hoarded, knowledge is en-cashed and IPR is used as a strategic weapon. The Law steps in.
CYBER LAWS A new comprehensive cyber law?
Or laws adapted for cyber space?
I T laws, v/s Cyber laws, v/s e-commerce laws. LAWS LAG TECHNOLOGY Growing hiatus -
Use of traditional theories. E.g. Doctrine of stock exhaustion
The minimalist approach [Indias I T Act] Indias I T Act.. Functional equivalence, e-governance, offences, digital signatures and remedy framework Other laws that apply? Contracts, policies, disclaimers and information security fill the gaps. [ Crucial role for CS]
The Internet & Corporate Governance Greater disclosure Greater frequency Greater reach & speed NAVs on your mobile Edifar, MCA 21 Authenticity? Dispersed disclosure model? The Birbal story
Contracts in Cyberspace Web offers Emails like faxes; www like telephone The perils of mail boxes Email contracts versus web contracts More about cyberspace contracts The challenges of a. Authenticity b. Integrity c. Non repudiation And the role of electronic signatures, CA, and the Public Key infrastructure. A comparison Real world contracts Offer Acceptance Consideration Parties Capacity Lawful object Ad idem Cyber space contracts Email v/s web Contracts of adhesion Payment gateways Who is that? Minors, tricksters? Law variations Hidden/obscure terms? Cyber space and torts Duty of care to a neighbor Duty to act, duty not to harm [Weller & Co vs Food and Mouth Disease Research Inst] Primary v/s secondary damage? Warnings, disclaimers, limitation of liability Lower human interaction; chain of risk? Finding v/s requesting [Caparo V Dickman] Cyberspace and IPR Trademarks, service marks and domain names And copyright challenges [more later] Patents for business models. The story of Jay Walker and priceline.com. Quid pro quo for patents and the Internet. Trade secrets and Echelon Cyber space and new business models Amazon.com and the corner book store Reverse auctions Monopsony on the Net Directed driving or surfing Telemedicine E-chaupal E-ducation
Cyber space and the consumer Loss of privacy Distance selling directives, OFT, SEC, FTC Allocation of risk The centrality of trust Cyberspace and taxes Money laundering Digital cash A PAN for everyone Indirect taxes bits and bytes! The Net tightens Cyber space and copyright Is everything on any website free for all? Implied licenses, non derogation from grant. Forwarding e mail Open source [manufacturing for masses v/s manufacturing by the masses] UGC Counter forces Open systems and monoculture risks Data v/s Information Greater connectivity v need for insularity Fewer intermediaries v more info-mediaries Curbs conventional crime and facilities white collar or economic crime Piracy for long term benefits? Cyber crime Forgery Counterfeiting Identity theft Tax evasion Electronic vandalism Electronic terrorism Espionage RTP/UTP Sales, Investment frauds Advertising frauds Interception/ tampering Spam and DOS Spoofing, shilling, bidding agents Pumping and dumping
New opportunities Accreditations Cyber notaries? Sp. Certifying Authorities ? Standards, certifications, audits Self-regulation, soft infrastructure High velocity remedial systems Insurance Education
The Perils of Paperless operations Digital obsolescence Dependence on power supply External threats like dust, heat Handling risks for digital media The nanosecond nature of digital destruction Privacy (contd) Data protection obligations include lawful procurement lawful purpose lawful use adequacy test - not excessive accuracy and updation access to persons concerned security Role of the company secretary Debate and understand implications create web sites ( WIRC, ICSI) influence and help formulate a national e- commerce framework contribute to soft infrastructure eg., insurance and liability advisories, funding and IPOs , IPR advisories, venture capital networks, web-creation for entrepreneurs with enabling agencies
Role of Company Secretary (contd) Permit and encourage foreign linkages introduce e-commerce laws, IPR laws in the curriculum review which other laws need changing to foster e-commerce eg., bankruptcy laws, company law (for new types of entities, consolidation of annual accounts, M& A) The Technology Law Forum Not for profit education and research on Internet, laws and business Building bridges between Technology and Law Your virtual forum for ongoing interaction Write to subramaniam.vutha@gmail.com from a g mail id only. THINK Data, information and knowledge. Knowing the difference can make a difference to your working life What would you call the current economy? And what are its implications for you?
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