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Simple English definitions for legal terms
business-to-business e-commerce
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A quick definition of business-to-business e-commerce:
Business-to-business e-commerce refers to the buying and selling of goods and services between businesses over the internet. This means that companies can conduct transactions with each other online, without the need for physical meetings or paper documents. It allows for faster and more efficient communication and can help businesses save time and money.
A more thorough explanation:
Definition: Business-to-business e-commerce refers to the buying and selling of goods and services between businesses over the internet.
Example: A manufacturer of computer parts selling their products to a computer manufacturer would be an example of business-to-business e-commerce. The two businesses would communicate and conduct transactions online, without the need for physical meetings or paper documents.
Explanation: Business-to-business e-commerce allows companies to streamline their purchasing and sales processes, saving time and money. By conducting transactions online, businesses can easily compare prices, negotiate deals, and track orders. This type of e-commerce is becoming increasingly popular as more businesses move their operations online.