Recent Post

Searching...
August 7, 2012

Essay Paper On UCC and UCITA


Before the introduction and subsequent promulgation of the UCC and UCITA one of the other key commercial laws that have been able to accommodate itself within the constitution of the United States is the uniform commercial code law which was introduced in the country. Introduced in the year 1952 it is one of the laws of the constitution which has been promulgated in conjunction and correspondence in efforts to harmonize the law of sales to remain almost homogeneous throughout the 50 states of the country.
The need of such a law was also necessary in order to establish the prevalence of commercial transactions that extend beyond the geographical boundaries of one state and can be applied uniformly all over irrespective of the state in which business or these commercial transactions are being carried out. In terms of the situation that has been provided above the basic difference in the legal clauses of UCC and UCITA is that on one hand where UCC accentuates primarily upon sales and the ways through which they can be ensured to take place in a uniform environment UCITA on the other hand emphasizes upon the characteristic through which small companies are much more interested in developing reforms and taking initiatives through which they can play a more significant role in the computer information industry.
There are many ways through which the selling of a product can be differentiated from simply licensing it. One of the basic differences between the two is that the licensing of a product is a step that is executed in advance before the product is sold to consumers. Moreover the licensing of a product also provides the manufacturer, distributor and other important stakeholders a legitimate and legal stance before the product is launched and apart from all this the proper licensing of the product before it is introduced into the market facilitates and uplifts its image and enhances  it sales among consumers as through proper licensing and legal procedure many other different plagues and complications that could prove as a source of barrier and hurdle in the development process can easily be overcome.
A major reason due to which the clause two of the UCITA would have been encompassed separately in the UCC could be due to the technological renaissance and unprecedented innovations that took place in the technological sector that occurred transforming the visage, norms and principles through which business was conventionally and is now contemporarily conducted. Moreover with the inflation and rampant rise of the internet bubble computer stimulated and generated businesses became a common trend and hence with such changes taking place in the commercial and corporate arena of the United States it was therefore mandatory for the legislators and the policymakers to devise and craft laws which could conform to this rapidly changing business trend. (Fox, 2009)

0 comments:

Post a Comment