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[Extract] In a previous issue, we alluded to the analogy between the development of the Law Merchant and modern "cyberlaw". To be competitive and attract merchants in the Middle Ages, a Trade Fair organiser would have to adopt the best trade rules, or develop more efficient ones.
The similarities are obvious. Since electronic commerce knows no boundaries, modern merchants will site their businesses where the legal infrastructure is most supportive. Malaysia’s Multimedia Super Corridor is an example of an early attempt to provide such a supportive infrastructure? Any country wishing to be a major player in the digital marketplace will need to keep up with "legal best practices" in the market.
Thankfully Australian government leaders are beginning to realise this. Two recent examples spring to mind.