The EU announced a plan in December 2002 to create a European E-business Legal Portal with the stated purpose of facilitating electronic cross-border transactions. On schedule, the Commission launched the site, eBusiness Lex that “contains information and resources on a range of relevant issues, including contractual aspects, online payments, privacy and data protection and intellectual property rights. Other features include a frequently asked questions section, an e-business legislation database, and references to self-regulatory initiatives.”