The Digital Commercial Society and the e-Lex Mercatoria

Abstract

Markets, as informational dynamic systems, are not static and,
certainly, they do not exist in isolation. They evolve addressing the
endogenous needs found within the economies in which they are
found. However, these needs are not homogeneous and they will
be a constant source of controversies that, if they are not addressed
appropriately, can put in danger the healthy dynamics of their
respective markets. To face this risk, we have relied on a set of norms
that have been complemented with consuetudinary elements,
which have fostered the development of a Commercial Society.
On this concept, which emerged from the pens of authors, such as
Adam Smith and David Hume, it has been argued that our markets
are dynamic systems that depend on the dynamism of their rules of
transition. For the specific case of the Digital Commercial Society,
the transitional element can be related to the denominated e-lex
mercatoria, which can be associated with the mechanisms developed
within the market to address, on an immediate basis, the users’
needs. Accordingly, this paper aims to foster the thought and the
discussion on the efforts of self-structuration and self-regulation
that configure those schemes that complement our legal frameworks
in force.