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E-Business Goes Mobile: A Fiduciary Framework for Regulating Mobile Location Based Services
Abstract
Where others have remarked on the possible fiduciary regulation of e-commerce in general, this chapter makes a more specific and demanding normative claim; notably, that we in fact ought to regulate Mobile Location Based Services (MLBS) along fiduciary lines. Part I describes the limited-access nature of fiduciary relationships and the conditions of peculiar vulnerability and dependence that attract fiduciary obligations. Part II explains the dynamics of user-provider relationships in MLBS environments and argues that the conditions present therein generate fiduciary obligations. Part III describes and addresses a likely criticism; in particular, that the imposition of fiduciary obligations on MLBS providers is morally incompatible with the special fiduciary status rightly and already afforded to equity holders. In response, I argue that those who argue along these lines tend to confuse a manager’s nominate function with their strict fiduciary duty to refrain from the opportunistic exploitation of those they serve.
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