Inheritance disputes in China over online shops give rise to new IT laws
In China, the deaths of two prominent e-commerce merchants last year caused contentious inheritance disputes over ownership rights to their online shops and this has seen virtual marketplace company Taobao.com introduce new regulations to govern property inheritance in the world of virtual businesses.
As more and more consumers turn to online shopping and the high street seems to be ever-shrinking, the attractiveness of e-commerce, where people can set up a shop from the comfort of their own living room, is becoming significant.
Many large companies have thriving e-commerce concerns running alongside their bricks and mortar premises, but, increasingly, e-commerce brands are being set up through sites like Amazon and e-bay, and it is likely that big brands will be built up this way in the future.
Online shop owners are advised to seek the advice of IT lawyers to protect their brand and solicitors for wills to ensure their online business is bequeathed as they wish upon death.