Legal Issues

With the current growth in the technology world, it means that all the persons and all the places in the world will need to grow with this technology and therefore achieve the set goals and objectives faster.  The adoption of this new system of electronic contracting in businesses has a number of advantages to a country. The first one is that the process of registration and record keeping will be made easier.

This means that the nation will be able to work or rather deal with more persons at a time. Record keeping using machines is also simpler and more convenient that the use of hard copies. With the development that is currently there in the world, there is the internet and this means that the country will be able to register people who are interested in doing business there wherever they may be in the world. This is an advantage to the company as it will be able to increase its income through revenue collection.

However, just like any other form of activity, there are some few pitfalls that may befall this new system of electronic recording. The first one is that with this new development in the technology world, there are also some people who are working day and night to form some systems that would defraud this system. Therefore, there may be increased theft through the use of these systems as it may sometimes be difficult to differentiate between a genuine contract and a fraudulent one.

In conclusion however, even though this may be a serious pitfall for the new advancement, it is still necessary and there can always be a solution to prevent this form of fraud. With the current development, it is necessary to develop with the technology as this is the only way that dreams will come true.