In: Finance
How law deals with new technology?
The law & legal industry seem to be very slow in adopting new technology. Law has to often deal with technologies i.e. with human activities which employing the attainment of science, bringing new media, tools, devices, systems that can improve the quality of life of the people.
Some example to know relationship between law & technology:
Law can also employ new technology to pursue goals that were pursued by other technologies in the past. This is the case with edocuments, signature, payment of obligations through money, concluding contracts through internet etc. In all these examples, new rules set the possibilities of employment of digital technologies in order to attain this or that goal which was reached through other technologies in the past. The role of technologies to help to create new commodities was true in the past for the new value prompted by the invention of printing, from which after a lengthy process the new right of copyright emerged.
Issues that relate to new technology & law:
The technology has given rise to many things like facebook, twitter etc. & people are getting fined for whatever they are posting in these social networking groups. Some of the legal issues that arise as a result of these technologies would include privacy, defamation & content ownership. The law is for sure at least five years behind the technology that is available now.
The first is that it's typically difficult to predict or anticipate technology innovations. Think of the music-sharing battles that began -- and are still going on -- after the advent of Napster.
Video: 'Private' info abounds on Web
Another reason is that it's difficult to handle cases that deal with the Internet and the Web because it confronts a fundamental schism: Is the Web a unique, separate space or is it really an extension of real space?
That concept might be a little bit abstract, but think of it this way: When a person dies, a house, property or car owned by that person can be passed on, relatively easily, to a family member or an identified heir.
But what about online property like account profiles, passwords and digital content?
"We really haven't thought about this much because there haven't been many generations of users with copious digital assets to even trigger the need to think about what happens if they pass away,"
Another challenge for the law is the way the Web crosses state and international borders. Let's say a Facebook user in England sues another user in Australia for defamatory comments posted on the site. Who has jurisdiction over the case, which country's laws should be applied: England's, Australia's or those of the United States, where Facebook is based?
Explain how Twitter, Facebook, and LinkedIn have resulted in the development of new laws and precedent.
The twitter, facebook & LinkedIn has made law to step into re-establishing the right of privacy that still exist even in technologically non private circumstances.
As discussed in the previous question, these technological advancements seem to affect the privacy of the people & there are also many examples on this. There are many people who seem to rely on these technologies to manage their life.
Laws are nothing but rules. If we have strict rules & regulations for usage of all these things these impacts can get reduced to some extent if can’t be avoided completely. It is the increasing crimes & mistakes arising as a result of all these technologies that necessitated legal cover to reduce them. Laws always ensure in protecting the interests of the people & hence the crimes on all these social networking sites made it compulsory to enforce a separate law for all these things.