Economics Of Technology And Law: A Study

Abstract

The information and digital technology industry is known for its high level of innovation, and applying legal concepts to new or developing technological goods and services is never easy. Legislative initiatives frequently lag behind, leaving a legal void that must be filled by applying basic legal concepts, contract law, tort law, consumer rights, product responsibility, privacy, intellectual property, and competition law. Since the majority of digital technology goods are aimed at global users, concerns about conflicts of law and the significance and impact of national laws become equally important. Information technology integration in a variety of industries, such as banking, finance, media, entertainment, e-commerce, health, and education, presents new challenges in policy making and governance. To address these issues, new accountability frameworks and safeguards for legal rights must be devised, considering taxation, competition labour legislation, manufacturing, retail regulation, data governance, and standardisation. The international scope of the internet, the intricacies of market regulation, and the swift evolution of technology and industry norms necessitate careful consideration of these matters.