Applied Law: Virtual Space - Assignment Example

The company must be registered by the government, and the data collected from the users (their personal information) must be used for the purpose it was collected. Laws regarding digital rights and online advertising also apply (Wilson, 2003). Yes, virtual space can be profitable. Targeting as many potential consumers as possible via the internet has now become easy (Wilson, 2003).

The business is not restricted to a particular geographical location; instead, it is widely spread and reaches international customers. If the revenue from sales is unsatisfying, then the advertising revenue in the virtual space may cover the costs. Joining ventures with other similar businesses and sourcing out for cost-effective products may help too (Wilson, 2003). Not only this but the overheads are also minimized hence it is, indeed, possible to yield a profit from the virtual space. No, I think the considerations would be similar for any business operating online or offline. These include diversification and/or capitalization (Wilson, 2003).