By: Jacques Gansler, William Lucyshyn, Kimberly M. Ross
For much of the last decade, the business world has been striving to adapt to the tidal-wave-like changes brought about by exponential improvements in information technology, particularly as offered by the Internet. These changes have had a dramatic impact on the way business is conducted. Companies are exchanging goods, services, and information in new ways that are more efficient, blurring geographic boundaries and shortening cycle times. Even though the expectations for this new wave of technology-enabled trade, broadly defined as “electronic commerce” (e-commerce), have been high, e-commerce still represents a small fraction of total economic activity.