Week 11 Discussion
Law is always evolving. It slowly changes over time in response to its environment. In business, new types of products, services, and practices drive the development of law as it is forced to adapt to situations we can’t even think about today. A great example is the gig economy created by companies such as Uber and Lyft and their do-it-yourself ride service. What new developments do you think will present the need to rethink and re-evaluate how business law concepts apply today or in the future?
Week 11 Discussion- Business Law Concepts
Laws are evolving constantly, based on slowing down the changes over some time that responded to the surrounding environment, with the challenges that are created in the field of advanced technology and Gig’s economic thinking to develop the society, with a change. This is because nowadays, business strategies are changing on a drastic note leaving behind the traditional settings. Apart from this, the general changes are made specifically in the industries, in a different way for the companies to operate the changes. Therefore, most of the conventional business laws are seizing the function that creates certain development, while providing a business model and creating a change. Therefore, in the case of the business procedure that deprived the products, services as well as practices to drive the development of law (Peters et al. 2018).
This development is often forced to learn about the situation which is beyond the daily mental scope. Moreover, the gig economy mainly uses a digital platform that often creates a connection with the customer to provide a short-term service or learn about asset-sharing. Thus, the aforementioned example is based on the companies such as Uber and Lyft to be a good example to learn about the newly created gig economy. Therefore, this often includes ride-hailing apps, food-delivering applications, and rental apps. This is growing in the segment to bring out the economic benefit and develop productivity along with creating an improvement in employment. Therefore, based on the new development which is required it needs to rethink and re-evaluate the business law with an application deprived on today’s concept to improve the future based on the e-commerce taxation laws (Rhoney et al. 2021).
As compared with the taxation laws that can affect the companies regularly on the note of the federal, state, and under local authoritative way. Moreover, the laws can have an impact on individuals and deal with the corporation within the respective states. Thus, the evolution in the case of the business system on the online system is based on the platform that operates virtually across the states. This system even continues with the different countries that change the taxation system in law instead of ensuring the taxes that are collected effectively based on eCommerce companies that maintain proper guidelines.
References
Peters, K., Smith, R. R., & Thomas, H. (2018). Rethinking the business models of business schools: A critical review and change agenda for the future.
Rhoney, D. H., Singleton, S., Nelson, N. R., Anderson, S. M., & Hubal, R. (2021). Forces driving change in pharmacy education: Opportunities to take academic, social, technological, economic, and political into the future. Journal of the American College of Clinical Pharmacy, 4(5), 639-651.
