What are the laws that govern online marketplaces?

Online marketplaces in Virginia are governed by both federal and state laws. At the federal level, the Federal Trade Commission (FTC) has established a set of laws known as the FTC Act which prohibits unfair or deceptive practices. This includes preventing companies from using false or misleading advertising, offering misleading refund policies, or failing to provide clear pricing information. At the state level, Virginia has adopted the Uniform Commercial Code which regulates the sale of goods and services as well as payment terms and warranties. This code applies to online marketplaces and requires that the business clearly describe the terms of sale and any other promises or warranties that accompany the product or service. In addition, Virginia has adopted laws related to data security and privacy. The Virginia Data Protection law requires that businesses that handle sensitive information, such as credit card numbers and personal data, use appropriate security measures to protect that information. This includes encrypting data and limiting access to only those that need the information to complete the transaction. Finally, Virginia law also regulates online marketplaces requiring them to clearly disclose any fees associated with the purchase such as shipping costs or taxes. Payment and return policies must also be clearly stated and refunds must be granted within a reasonable timeframe. Violations of these laws can result in legal action or fines.

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