It’s clear that eCommerce is more than just a passing fad. eCommerce has become the core business model for most retail companies. Online shopping has evolved to comprise a large percentage of most businesses’ sales, and this is only growing in a post-pandemic world. Along with this explosive eCommerce growth comes associated risk. Brand protection, data breaches, and vulnerabilities working with third-party platforms, just to name a few. Not to mention the ever-changing privacy laws are just some potential liabilities unique to eCommerce. As an eCommerce business, it’s crucial to recognize these risks and take the necessary steps to reduce exposure.
A trusted legal team that is well-versed in eCommerce best practices can provide valuable assistance in risk reduction. As your eCommerce business grows, your needs will evolve.
The EmergeCounsel Team
Our team at EmergeCounsel are experts in assessing risks specific to digital businesses. By investing the time to understand the unique complexities of your eCommerce business and building a long-term relationship, we can recommend recovery strategies and create effective risk mitigation solutions.
Trademark protection is an essential piece to protect SKUs. We developed TotalTM to provide skilled and experienced trademark counsel to our eCommerce clients at a competitive price point. We understand that a company’s brand is its most valuable asset. Our team will assess all potential risks before preparing and filing the trademark application to maximize brand protection and minimize trademark prosecution.
Our legal experts can also help you navigate the complex regulatory framework for data privacy to prevent exorbitant financial penalties for non-compliance. FTC data privacy legislation, including the GDPR, HIPAA, and PCI, mandate privacy policies required to operate an online business. It’s essential to ensure that the privacy policy of your eCommerce business accurately reflects your website’s collection, use, and sharing of personal information. Risk mitigation is an ongoing practice with the downside of costly penalties. Outsourcing to a trusted legal expert, you can offload this risk.
Third-Party Websites
ECommerce sellers should be aware that third-party websites such as Amazon and Walmart do not exist to watch the seller’s backs. An example is in risk of shipment. While these third parties may take physical possession of goods, the eCommerce business still assumes all risks associated with their goods. Without appropriate contracts to govern these relationships, reliance on these third-party websites can leave an eCommerce seller exposed. Management of supply chain vulnerabilities requires skillful contract negotiation. With a deep understanding of your business, our legal team can assess your risks throughout the supply chain.
By outsourcing risk allocation and management to outside experts, your business is freed up to focus on what it does best, and this translates to a direct increase in your bottom line. Click here to learn more about how EmergeCounsel can assist you with your eCommerce risk management strategy.
Read more blogs for eCommerce sellers in my LinkedIn Newsletter