In an online marketplace, there are several small but significant details that can either raise or lower your risk profile. The online marketplace is naturally rife with risk because of its rate of scale, and the increase in the number of customers and transactions processed daily.
The consumer-driven, on-demand economy has zero tolerance for unwieldy, time-consuming processes. Meals, rides, and outfits can be delivered within the hour, or at the very least, within 2 days.
Online marketplaces are booming. $1.5 trillion was spent globally in the top 75 online marketplaces in 2017 alone. Their rapidly expanding reach has also brought legal considerations to the forefront that must be given prompt attention. In this post, we'll explore 5 of the risks online marketplaces face and how to address them.