However, observers say the emerging sector has run into some legal snags, while businesses band together to navigate regulatory grey areas
Besides personal assets, services like transport and holiday accommodation can also be made available for sharing. This idea of collaborative consumption allows individuals to buy from and sell to one another directly, saving resources and bypassing big companies.
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The sharing economy is relatively new in Singapore. So there are not many legal firms that are representing the businesses right now
Lester Kang, founding member of the Sharing Economy Association of Singapore