Commercial Transactions in the Virtual World: Issues and OpportunitiesAvnita LAKHANI There is a growing trend in virtual world commercial transactions. In order to protect people’s rights in the virtual world and keep pace with innovative trading demands, it is essential for us to understand the commercial implications of virtual world economies by evaluating the effectiveness of the existing laws, practices, and policies in business, technology, intellectual property and related fields. This book, in 11 sections, investigates the issues and opportunities associated with commercial transactions in the virtual world. In 29 detailed essays, this book analyses every facet of virtual world transactions, including the nature of virtual commercial transactions, virtual goods and services, transfer of virtual property, issues of negotiable instruments, remedies for buyers and sellers in the virtual world, consumer protection, dispute resolution and other related topics. Each of these sections both contributes to and advances the field of commercial law and related disciplines. This book is an excellent source of reference for students, practitioners, academics, policy makers, and researchers as well as anyone with an interest in the exciting developments of commercial law in cyberspace.
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Contents
24 | 7 |
The Contribution of this Book to Advancing | 12 |
Consumer Protection | 13 |
Conclusion | 19 |
Virtual Commercial Transactions | 21 |
Conclusion | 35 |
The Nature of Goods and the Bundle | 59 |
The Current Relationship between | 68 |
in Virtual World Transactions | 329 |
The Nature and Characteristics | 337 |
2 | 345 |
Implications | 347 |
Is It Really Practical? | 351 |
5 | 353 |
The Virtual World | 355 |
6 | 367 |
Allocation of Rights Power of the Provider to Terminate | 75 |
Virtual Property Rights | 96 |
Arguing for Recognition of Real Property Rights | 103 |
Whether Virtual Goods Should Attain Real | 112 |
MassivelyMultiplayer Online Role Playing Games | 119 |
Who Owns Virtual Property? 4 1 Proprietor Owns Virtual Property? 4 2 Participants Own Virtual Property? 5 What Is Virtual Property? | 130 |
65 | 135 |
Legal Uncertainty in Various Jurisdictions Practical considerations Other Rights that Should be Attached | 155 |
Improbable Real Sale of Virtual Goods | 161 |
Reversed Offer and Acceptance | 167 |
Application of Real World Laws to Virtual World Sale | 173 |
Forms of Virtual World Transactions | 180 |
Redefining the Sale of Goods Contract | 191 |
Transfer of Risk in Real World Commercial Transactions | 213 |
Applying Real World Rules to Virtual Worlds | 219 |
Transfer of Property | 225 |
Conclusion | 235 |
Conclusion | 241 |
Payment Methods and Issues | 243 |
The Existence of Virtual World | 245 |
How Virtual World Transactions are Made | 252 |
Differences and Similarities of Payment Methods | 259 |
Supervising Economic Transactions and Payments | 265 |
146 | 270 |
Payment Methods | 272 |
Conclusion | 284 |
Remedies Available for Buyers and Sellers | 289 |
126 | 293 |
Contractual Remedies | 294 |
SelfHelp and Public Law | 303 |
Second Life Second Remedies | 309 |
Applicability and Practicality of Hong Kong | 315 |
Hong Kong Sale of Goods Ordinance | 321 |
Use of Real and Quasi Securities | 327 |
Recognition of Virtual Property Rights | 379 |
The Regulation of Banks and Money Lending Activities | 389 |
155 | 391 |
6 | 399 |
8 | 405 |
The Applicability of Real World Laws in Protecting | 409 |
200 | 412 |
173 | 416 |
161 | 418 |
3 | 424 |
5 | 448 |
133 | 450 |
EULAs vs Consumer Rights and Protections | 467 |
Consumer Rights under Standard | 471 |
Legal Protection | 478 |
3 | 485 |
177 | 486 |
Recommendations | 487 |
Dispute ResolutionADR in theVirtual World | 493 |
6 | 501 |
Conclusion | 509 |
An Analysis | 511 |
7 | 513 |
134 | 515 |
Problems of ADR in the Virtual World | 520 |
5 | 522 |
417 | 523 |
178 | 525 |
The Future for Arbitration | 527 |
426 | 530 |
42 | 537 |
53 | 549 |