...------------------------------------------------- ------------------------------------------------- ------------------------------------------------- OPERATORS OF INTERNATIONAL BUSINESS LAW ------------------------------------------------- The operators in the international contract The parties can be natural person, companies, states and public entities. Section I: The natural persons and international trade They intervene in their own account and also as an agent. 1. The capacity and power of attorney ( mandat) To intervene on his own account or on behalf of a third person, the person must be an adult or adult under guardianship or trusteeship. If the person intervenes on behalf of a third or as an agent, he needs a power of attorney. The capacity: it is governed by the person’s national law, the law of the country where the disputed act ( l’acte litigieux) is concluded ; or by the applicable law to the contract. * In France, the capacity is governed by the national law even if the person lives abroad (article 3 CC). If the person is a foreigner, his capacity depends on his own national law. Example: If the person is underage according to his national law but adult in France, the contract are legal if his French partner acted in good faith. * In the common law system , the capacity is governed at the contract’s law * In Switzerland, Germany or Italy, the capacity depends on the place where the contract is made. ( same for international...
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...Connected with U.S. Business Analyze how foreign persons in the U.S. are taxed on trade and business income and suggest an alternative to the current system. Foreign Person: U.S. Source Income There are two types of Aliens. You have the resident alien and the nonresident alien. It is very important to know the different between the two. A resident alien is taxed in the same manner as a U.S. citizen, which means that their worldwide income is subject to U.S. tax. The resident alien must report their worldwide income, such as, interest, dividend, wages, or other compensation for services. They also must report income from rental property and royalties and any other type of income that they received during the taxable year on their U.S. individual federal income tax return. A nonresident alien is an individual from a foreign country who has not passed either the green card test or the substantial presence test. Nonresident alien’s income is dividend up into two categories: U.S. source income that is effectively connected to a trade or business in the United States or U.S. source income that is Fixed, Determinable, Annual, or Periodical (FDAP). Nonresident alien's income that is subject to U.S. income tax is generally divided into two categories; income that is Effectively Connected with a trade or business in the United States or U.S. source income that is Fixed, Determinable, Annual, or Periodical (FDAP) and is not effectively connected with a trade or business in the United States...
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...Work Submitted to the Ramon V. Del Rosario College of Business De La Salle University – Manila In Partial Fulfillment Of the requirements in BUS520M Business Law Submitted by: GROUP 4 Amparo, Lourdes Lagman, Mia Marie Legaspi, Jill Noreen Submitted to: Atty. Antonio Ligon April 6, 2016 I. Background 1. Philippine Business a. History 2. Doing business in the Philippines b. Forms of business 3. Definition and Origin of Joint Venture (JV) II. Statement of the Problems 1. What are the applicable laws in joint ventures? 2. What are the tax implications? 3. Are our current joint venture laws sufficient? Especially with the Asean integration? III. Statement of Objectives The research study aims to: 1. Identify the applicable laws in joint ventures 2. Identify the tax implications in joint ventures 3. Identify insufficiencies (if any) in our current joint venture laws and make recommendations IV. Discussion 1. Nature of Joint Ventures in Philippine setting 2. Governing Laws 3. Foreign Investments 4. Scope of Joint Venture Business Activity 5. Taxes in Joint Venture 6. Example of JVs in the Philippines V. Analyses VI. Recommendations VII. Learning Points VIII. References I. Background of Philippine Business History Historians state that the early start of business in the Philippines dated back in the 14th century, however...
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...I. Introduction This is a country that has abundant and diverse natural resources and naturally attracts high levels of foreign investment. It includes extensive reserves of coal, iron ore, copper, gold, natural gas, uranium, and renewable energy sources. A series of major investments, such as the US$40 billion Gorgon Liquid Natural Gas project, will significantly expand the resources sector. The country also has a large services sector and is a significant exporter of natural resources, energy, and food. Key principles of it’s trade policy include support for open trade and the successful culmination of the Doha Round, (aimed to achieve major reform of the international trading system through the introduction of lower trade barriers and revised trade rules), for multilateral trade negotiations, particularly agriculture and services. The economy grew for 17 consecutive years before the global financial crisis. Subsequently, the government introduced a fiscal stimulus package worth over US$50 billion to offset the effect of the slowing world economy, while the Reserve Bank of Australia cut interest rates to historic lows. These policies - and continued demand for commodities, especially from China - helped the economy rebound after just one quarter of negative growth. As a result of an improved economy, the government could return to budget surpluses as early as 2015. It was one of the first advanced economies to raise interest rates as well, with seven rate hikes between October...
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...IMPACTS OF GLOBALIZATION ON INDIAN ECONOMY INTRODUCTION TO GLOBALIZATION: Globalization has many meanings depending on the context and on the person who is talking about. It refers to the increasing global relationships of culture, people and economic activity. Guy Brainbant: says that the process of globalisation not only includes opening up of world trade, development of advanced means of communication, internationalisation of financial markets, growing importance of MNC’s, population migrations and more generally increased mobility of persons, goods, capital, data and ideas but also infections, diseases and pollution. The term globalization refers to the integration of economies of the world through uninhibited trade and financial flows, as also through mutual exchange of technology and knowledge. Ideally, it also contains free inter-country movement of labour. The United Nations Economic and Social Commission for Western Asia defines globalization as: "a widely-used term that can be defined in a number of different ways. When used in an economic context, it refers to the reduction and removal of barriers between national borders in order to facilitate the flow of goods, capital, services and labour... although considerable barriers remain to the flow of labour... Globalization is not a new phenomenon. It began towards the end of the nineteenth century, but it slowed down during the period from the start of the first World War until the third quarter of the twentieth...
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...adding citations to reliable sources. Unsourced material may be challenged and removed. (October 2010) A joint venture (JV) is a business agreement in which the parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares. In European law, the term 'joint-venture' (or joint undertaking) is an elusive legal concept, better defined under the rules of company law. In France, the term 'joint venture' is variously translated as 'association d'entreprises', 'entreprise conjointe', 'coentreprise' or 'entreprise commune'. But generally, the term societe anonyme loosely covers all foreign collaborations. In Germany, 'joint venture' is better represented as a 'combination of companies' (Konzern).[1] With individuals, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "co-venturers". The venture can be for one specific project only - when the JV is referred to more correctly as a consortium (as the building of the Channel Tunnel) - or a continuing business relationship. The consortium JV (also known as a cooperative agreement) is formed where one party seeks...
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...US Census Bureau (http://www.census.gov/) The US Census Bureau website is largely a repository for information on the domestic population including demographic, economic, housing, and education information which is compiled from the different types of surveys and census data they gather. There are, however, sections where US data is compared to the same data for the rest of the world, like the population counter located on the website homepage. There is an entire section on the site devoted to International Trade which includes a guide to foreign trade, foreign trade products, and recent news about the US export and import statistics and regulations. Within this section is the US Census Global Reach Blog where they post about hot topics and prevailing current issues in foreign trade, sometimes reposting from the US Census Director’s Blog as well. A recent post, summarized the month over month increase in the US Goods and Services Deficit, rising $6.5 billion in August to reach $48.3 billion (census.gov). I like this format for the information because it makes it easy for the average person to understand international trade issues since it is not written in a report but rather a concise, simple summary of information. Another interesting item with the Global Reach Blog is the webinar section which lists webinars held by the International Trade University which summarizes Foreign Trade Regulations as well as offering how-to guides and resources to help individuals be able to...
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...should answer the question completely in approximately 2 – 3 paragraphs. The exam reflects the following course objectives and possible topics: TCO 1: Given a description of a typical business, demonstrate how that business acts within our economic system to achieve its goals as well as those of society, along with an understanding of how the future may impact these goals. * Know how government regulation affects the economy. * Show the relationship of supply and demand as illustrated on supply and demand curves. * Define elements of productivity and how it can be increased. * Define “quality of life”. * Know the similarities and differences between for profit and not-for-profit organizations. * Know the role of the US Federal Reserve and what tools they use to implement their policies. * Know what a free market economy is and its relationship to the distribution of wealth. * Define a socialist economic system. * Know how profit is determined for a business. * Know who the stakeholders are of a business. * Know what constitutes US fiscal policy and how is it used to manage the economy. * Define gross domestic product (GDP). * Know and explain the “rights of capitalism”. TCO 2: Given the importance of ethics in business, be able to understand and address ethical dilemmas that may occur in...
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...A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets. There are other types of companies such as JV limited by guarantee, joint ventures limited by guarantee with partners holding shares. In European law, the term 'joint-venture' (or joint undertaking) is an elusive legal concept, better defined under the rules of company law. In France, the term 'joint venture' is variously translated as 'association d'entreprises', 'entreprise conjointe', 'coentreprise' and 'entreprise commune'. But generally, the term societe anonyme loosely covers all foreign collaborations. In Germany,'joint venture' is better represented as a 'combination of companies' (Konzern)[1] On the other hand, when two or more persons come together to form a temporary partnership for the purpose of carrying out a particular project, such partnership can also be called a joint venture where the parties are "co-venturers". The venture can be for one specific project only - when the JV is referred to more correctly as a consortium (as the building of the Channel Tunnel) - or a continuing business relationship. The consortium JV (also known as a cooperative agreement) is formed where one party seeks technological expertise or technical service arrangements, franchise and brand use agreements, management contracts, rental agreements...
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........ i Scope Note ........................................................................................................................................... iii US Technologies and Trade Secrets at Risk in Cyberspace.....................................................................1 The Appeal of Collecting in Cyberspace................................................................................. .....1 Security and attribution ....................................................................................................... 1 Faster and cheaper .............................................................................................................. 2 Extra-territoriality ................................................................................................................ 2 Large but Uncertain Costs........................................................................................................... 3 Pervasive Threat from Intelligence Adversaries and Partners ...............................................................4 China: Persistent Collector.......................................................................................................... 5 Russia: Extensive, Sophisticated Operations ..............................................................................5 US Partners: Leveraging Access ..................................................................................................6...
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...Title: Foreign Direct Investment in Retail in India: Good or Bad? Name: Amit Rohilla*, Manoj Bansal** Official Address: *Department of Commerce, Gargi College (University of Delhi), Siri Fort Road, New Delhi-110049 ** Department of Commerce, R. K.S. D. (P. G.) College (E), (Kurukshetra University, Kurukshetra), Ambala Raod, Kaithal-136027 Email id: *rohilla_amit@yahoo.co.in; ** manoj.bansal.5686@facebook.com Phone/fax number of author(s): *+91-8860-82-8731; **+91-9812-39-4945 A brief biographical note of the author(s): Amit Rohilla [M. Com., MBA (Finance), M.Phil. (Finance)] is currently Assistant Professor of Commerce at the Gargi College, University of Delhi, Delhi. Earlier he has worked as a Lecturer in R.K.S.D. (P.G.) College, Kaithal (Haryana). He is an active researcher and a teacher with an experience of more than 4 years in commerce and management. He has four papers to his credit out of which one has been published in South Asian Journal of Marketing and Management Research (SAARJ). He has also attended five seminars and one workshop. His area of interest is Finance and Marketing. Electronic copy available at: http://ssrn.com/abstract=2163952 Title of the page: Foreign Direct Investment in Retail India: Good or Bad? Abstract: Indian retail industry is a sunrise sector and many global players are willing to enter this. Indian retail industry is one of the pillars of the Indian Economy. Since 1991, when the policy of the liberalization was introduced by the Indian...
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...The Foreign Corrupt Practice Act Abstract The paper explores the focus on the Foreign Corrupt Practice Act and its correlation with other governmental firms. In the United States, foreign transactions are closely viewed by the government to insure that no funds are being transferred to country foreign officials for business purposes. To avoid this type of activity, the Foreign Corrupt Practices Act was implemented. In this paper you will read about the FCPA as a whole as well as how it was implemented, by whom it is enforced, the violations, amongst others. Foreign Corrupt Practice Act There are many companies in the United States who conduct business with firms all over the world. This is the way the world is growing with other markets to be profitable and sustain their companies afloat. However, not all the companies have proper business ethics which can be an issue when doing business between the US and foreign companies who do not have any limits to their business laws. “For instance, in many foreign countries side payments to government officials for an exchange of a favorable business contract are not unusual.” (Hollowell &Miller, 2011,pg. 22). Due to the extensive amounts of these types of activity, congress passed the Foreign Corrupt Practice Act (FCPA) which prohibits any US business person from bribery to foreign officials for business purposes. The FCPA is composed of two provisions which are, first, the anti-...
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...Doing business in Singapore Table 1. Profile of Singapore Name Singapore Geographic location East Asia Current form of state City state with parliamentary democracy Previous form of state British colony (1819±1959) Member of Malaysia (1959±1965) Land area 647.5 sq. km Population 3.04 million (mid-1996 estimate) Population growth (1993±1997) 2% per year Population make-up Chinese (77.3%) (Singapore, as of June 1996) Malay (14.1%) Languages English, Chinese, Malay and Tamil GDP (US$) $94.1 billion (1996) GDP per head (US$) $30 900 (1996) GDP growth (1988±1997) 2.67 times Economic status Newly industrialized economy Type of industrialization Export-oriented Major industries by % of GDP Finance...
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...producing a specific product or is able to produce it more efficiently than all other countries. Trade Deficit states that an unfavorable balance of trade; occurs when the value of a country’s imports exceeds that of its exports Trade Surplus is defined as a favorable balance of trade; occurs when the value of a country’s exports exceeds that of its imports. Tariff is described as a tax imposed on imports Balance of Trade is the total value of a nation’s exports compared to its imports over a particular time period Balance of Payments is the difference between money coming into a country from exports and money leaving the country from imports plus money flows from factors such as tourism, foreign aid, military expenditures, and foreign investment Dumping is selling products in a foreign country at lower prices than those charged in the producing country Licensing is a global strategy in which a firm allows a foreign company to produce its products in exchange for a fee Exporting is selling products to another country "Ethnocentricity" (page 71) :characterized by or based on the attitude that one’s own group is superior Franchising is the right to use a specific business’ name and sell its products or services in a given territory Foreign Direct Investment is buying permanent property and businesses in foreign nations...
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...economic activity ( create a robust environment for business ( provide for the needs of those under its jurisdiction and care. ( General Principles: 1) Resident Citizen – all income from within & without 2) Nonresident Citizen – income within 3) Overseas contract worker – income within 4) Alien – income within 5) Domestic Corporation – within & without 6) Foreign Corporation – within x------------------------------------x 2. IMPORTANT BASIC TERMS IN GENERAL (NIRC §22) 2.1 Taxable Year ( Calendar year 2.2 Fiscal Year ( Accounting period of 12 months ending on the last day of any month other than December 2.3 Securities ( Proof of what Corporation owes, i.e. shares of stock, etc. 2.4 Ordinary Income ( Any gain from sale or exchange of property, not a capital asset or property 2.5 Gross Income - §27(A) & (E)(4) ( Domestic Corporations shall be imposed an income tax of 35% 2.6 Ordinary Loss ( Any loss from the sale or exchange of property which is not a capital asset ( Ordinary losses may only be charged against ordinary gains 2.7 Capital Assets - §39(A)(1) ( That which is NOT an ordinary asset ( Ordinary assets: 1) Stock in trade or inventory for sale 2) Depreciable items 3) Real property used in trade or business 4) Goods or property for the employee’s convenience ...
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