ABSTRACT
The mid-1990s was heralded by politicians, economists, law makers and commercial entities as groundbreaking for worldwide economic development. The reason – the opening of the Internet1 for public use. Information could now be freely circulated globally through computer networks provided people had the necessary skills and access to computer hardware and software to tap into information available on these networks. Creation of this open network imparted a new sense of living within a global community or a global village where people could be in constant touch regardless of spatial and temporal differences. The Internet provided a ready platform for commerce to flourish – sellers could advertise their wares and services globally and buyers, businesses and consumers alike2 had access to products at competitive prices. Sellers could provide product information, prices, delivery terms, and interested parties could negotiate terms and conclude contracts electronically. Direct access to a potentially large customer base meant that sellers did not have to opt for the traditional methods for selling their products – for example, use of agents to market their products in distant lands. Equally, buyers did not have to go through agents to find suitable manufacturers of products they required. The information and communications technology revolution was creating a new means of conducting business, namely, conducting commerce electronically or e-commerce.3
