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It is known that there are number of methods and tools that can be adopted to establish an online business, but how could you ensure the legitimacy of your online business? especially when the targeted customers and markets are globally open...
You need to avoid local illegal actions and be aware of it.
The answer of your question would be in two parts:
1. Legal: The legalalities to look out for a legitimate online business should mainly be:
- The products you are gpoing to sell online is approved by the local laws, for e.g. in country like India it is illegal to sell prescribed drugs online.
- Liabilities on a particular transaction where multiple parties are a part to it should be clearly known and should be as per their respective organizational policies.
- Processes and policies should be clearly defined and the policies should come out with its intended meaning in all the agreements.
-Online business though catering to a global audience is pretty much under the jurisdiction of the country where its operated so the legalities of the regions should be correctly understood.
- Any changes in transactional charges etc should be initimated clearly and early to the customers.
Technicalities to be considered would be:
1. Product, transactional cycles, refund cycles is tested throughly and is according to organizational framework .
2. Should be as secured as possible.
3. Should be fexible enough to accomodate new changes in least possible time.
4. Be careful in selecting a third party software for your online business as they accompany long term/recurring cost which may not be evident or potryed in initial discussions and can be overlooked.
5. Try to inolve more web services rather than API for more flexibility and scalability.
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