...International Legal and Ethical Issues Simulation Summary The most important thing to consider when solving international disputes is whether or not the contract is legally enforceable in all countries. Countries are ruled by different rules and regulations and the business initiating the contract needs to take into consideration the law, culture, and ethics of the country they are doing business with. When considering sublicensing agreements, CadMex must ensure that all quality standards and production requirements are met. They also need to consider the time and cost it will take to set up facilities and improve technology to achieve the goals. Sublicensing will protect the patent and ensure that CadMex receives the royalty payments due to them as the patent holder. Conflict can arise due to changes in legislation, clashes of interest, and ethical dilemmas. It is important for any company doing international business to know the laws and customs of the country they are doing business with. International organizations such as the World Trade Organization are an important part of governing international business deals. The WTO sets a standard of conflict resolution. It must be specified in the contract how conflict resolution will be approached. In the simulation CadMex had a choice of two international agreements, the CISG and the CRTIC. Both of these help lay down rules, regulation, and requirements that companies are governed by but CadMex must take into consideration the...
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...Addressing International Legal and Ethical Issues Simulation Summary Name LAW/421 Date Professor Addressing International Legal and Ethical Issues Simulation Summary In the country of Candore and Gentura, there has been a development of anti-diabetic medicine named, Proprez. This development has taken place in Gentura, which is a biotechnology company. The company CadMex Pharma is interested in licensing the manufacturing company, which is located in Tampa, Florida. CadMex is one of the largest manufacturing companies that make antibiotics. The political climate in Candore and Gentura being a dictatorship, this makes it hard to conduct business with other countries. It’s very important to know the conditions before entering into contracts with another country regarding any business relation. In this case, Gentura is giving the global marketing rights to CadMex for the Proprez medicine. The choice of law of my choice is Contract for the International Sale of Goods known as the CISG. The Contract for the International Sale of Goods law makes it easier to make business transactions between both parties. In Candore is not countersigner and therefore, this is not a nonpayment sale. The CISG will include coverage that CadMex will be giving Gentura; arbitration will be the selection clause. The arbitration will be quicker and less expensive when settling outside for court. Gentura has accepted the arbitration and prefer that the laws...
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...Addressing International Legal and Ethical Issues Simulation Summary LAW/421: Contemporary Business Law University of Phoenix Addressing International Legal and Ethical Issues Simulation Summary In January 2007, CadMex, who is a leader in global pharmaceuticals, developed techniques for the quick manufactuing of medical agents. Gentura, an established biotechnology company developed an agent called ProPrez, which is an anti-diabetic agent. Gentura is located in Candore, which is a dictatorship. CadMex decided to go into business with Gentura that would give them global marketing right to ProPez. The contract needs to have measures in place to protect CadMex interest concerning property rights and potential dispute. Some of the issues involved in resolving legal actions against a foreign business are the legal system may want to finish the case quickly rather than with quality so may not analyze all the evidence. Another issue may be the difference between the two countries laws. No written documents may also be another issue if contracts are done over the phone. An example is Some practical considerations of taking legal action against a foreign business based in another country are whether the have patent law and trademark laws. Factors that could work against CadMex decision to grant sublicensing agreements are lack of patent rights and did not go through the proper court process in Candore. When the local customs and laws conflict...
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...Addressing International Legal and Ethical Issues Simulation Summary Denny Harrold LAW/421 April 22, 2013 Kevin Hiatt Addressing International Legal and Ethical Issues Simulation Summary What are the issues involved in resolving legal disputes in international transactions? Some of the issues that are involved in resolving legal disputes in international transactions would be lack of knowledge of the other countries laws, and government interference when it comes to the ruling of the courts. A business would also have to worry about that they will only know their laws and nothing about any other countries laws when it comes to doing business internationally. What are some practical considerations of taking legal action against a foreign business partner based in another country? When a business is thinking about taking some legal actions against a partner business in a foreign country they need to take some things into consideration before doing so. Some of these considerations would be different laws, understanding of their laws, also how much interference there could be from their government. Another consideration that a business must think about is how other countries will see this action. What factors could work against CadMex's decision to grant sublicensing agreements? Some of the factors that could work against CadMex would be the loss of their partner business and the loss of more money. It could also bring on more legal actions...
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...Addressing International Legal and Ethical Issues Simulation Summary LAW/421 July 2, 2012 Kathryn Harris Abstract This paper discusses many of the issues discussed in the simulation on addressing international legal and ethical issues. This paper discusses many of the issues involved in resolving legal disputes in international transactions. Some of the issues discussed include selecting local counsel, fully understanding the foreign laws, due diligence, and choosing the right law and dispute resolutions. This paper also highlights some of the factors that could possibly work against CadMex when it comes to its decision on sublicensing agreements. Some of the factors discussed in this paper include time and cost increases in addition to price differences between generic brands in Canada and CadMex’s brand. The paper will also discuss some of the ways local customs and laws can conflict and how to deal with the situation. Finally, this paper will also cover how companies should resolve domestic and international disputes differently than the companies discussed in the week one readings. Addressing International Legal and Ethical Issues Simulation Summary Understanding how to address international legal and ethical issues is essential in creating a strong business relationship with other businesses abroad. There are many issues involved in resolving international legal disputes including selecting local counsel, full understanding of the local laws, due diligence...
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...Addressing International Legal and Ethical Issues Simulation Summary Rania Kisar Law/421 Feb 22, 2015 John Huschen Resolving legal disputes in international business transactions require understanding of the substantive law, the political system, and the cultural habits of the foreign nation. Contract agreements that include the Choice-of-Law Clause and Forum Selection Clause such as in the simulation of CadMex (University of Phoenix, 2015), will ensure adherence of both parties to dispute resolutions especially when legal requirements may not be compatible. Negotiations, arbitration and mediation dispute resolutions ensures proper image of both firms. Litigations with foreign companies are not only costly and time consuming but will have a much weaker chance of winning, especially if the litigations are conducted through the foreign court systems as agreed upon in the example of the simulation (University of Phoenix, 2015). Two factors that could have worked against CadMex in granting sublicensing agreements to other firms to producing urgently needed medicine for a nation facing an epidemic (University of Phoenix, 2015). The first would have been financial related, and the remedy to that was to negotiate financial compensation. The second would have been to risk the entire contract being revoked by Gentoura, which could have been the case if they were forced to enter into sharing marketing rights of another drug. The local customs of the employees performing the tasks...
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...Addressing International Legal and Ethical Issues Simulation Summary 1. What are the issues involved in resolving legal disputes in international transactions? The issues involved in resolving legal disputes in international transactions include but are not limited to the signing of contracts designed to protect both parties, choice of clause, which forum to use when settling a dispute and if arbitration, if used, will be binding or nonbinding. Something else to think about when resolving legal disputes in international transactions would be to gauge when the government stands in the legal proceedings and to find out if the particular countries government can overrule any decisions made by the companies. Other issues would include the political situation, dominant international laws and cultural issues that would influence the achievement or disappointment of the business venture. 2. What are some practical considerations of taking legal action against a foreign business partner based in another country? Some practical considerations of taking legal action against a foreign business partner based in another country include looking out for the best interest of the company your represent as well as future business ventures with the company or country you are in business with. One would also have to take into consideration economic, legal, and ethical associations. The economy of the country that you are contracted with may have ulterior motives in the business arrangement...
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...Addressing International Legal and Ethical Issues Simulation Summary In this paper, I will concentrate on several different issues proceeding into any legal binding business contracts involving international businesses. When proceeding into international contract agreements it is important to complete the proper research. Most countries have different laws and regulations that all businesses must follow when business is conducted in that country. Before any problems arise, it will be important to research laws such as copyright laws, taxation laws, patent protection laws, and employment laws. Companies that are involved in business with contracts in another country must have some type of legal implantation (Melvin, 2011). Violated contracts must be enforced to resolve any problems. Outlining possible disagreements in advance will help to avoid future conflicts for all parties involved. If business is being conducting in The United States, The United States has the power to stop all the businesses transactions if the lawsuit was filed on The United States by that business (Melvin, 2011). When arranging foreign business, all laws and regulations must be followed and respected, if I am doing business in China I must follow the laws and regulation of China because The United States business laws may not be valued. Legally binding contracts are only honored in the countries where they are made for. The CEO from CadMex expressed the value of several important options...
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...An international company should have a very specific contract agreement with their out of country partners specifying the form of law as well as the forum of which disputes are handled. Some of the issues addressed in this simulation were ethical issues and government issues. One ethical issue was when the country was having a viral epidemic they forced the foreign company to breach their contract to supply enough medication to save peoples lives. In this issue some practical considerations to take into account would be the outcome of taking legal action against the company while the country is in that state of emergency. In the end it could cause bad publicity and ruin the partnership and damage further profits for your company through the partnership. In this case the issue is to overcome the legal breach of contract and make the decision for the greater good of the company. A second issue would be change of rule or government in a foreign country. In the simulation the foreign country changed from a dictator to a democracy changing their government entirely. By doing this it could change local law causing the contract to be null and void. Taking these changes into consideration your company would need to study their local laws and stay up to date to ensure the best for the company. In the simulation the foreign government decided to start making a generic brand of your product. In that situation the best option would be to attempt to sublicense out your medication to...
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...which society has deemed to be right or wrong. In The result would be that no business would actually be achieved properly without laws. Function and Role of Law in Business Business Law considers of a body of law that applies to the rights, relations, and conduct of persons and businesses engaged in commerce, merchandising, trade, and sales. It is often considered to be a branch of civil law and deals with issues of both public laws and private laws. Public laws are those derived from some government entity. Private laws are recognized as binding between two parties even though no specific statute or regulation provides for the rights of the parties. Most companies use legal advice when making important business decisions to avoid potential legal companies generate more sales through the use of contracts or agreements with other companies. These agreements may be needed to ensure that proper pricing and customer service is maintained during the business relationship. Changes to previous agreements or contracts may also need to be reviewed by the company’s legal counsel to ensure it meets current contract law. One of the main roles in business law is to maintain peace, personal freedom and social justice. A Law function maintains social control and protects public order by resolving disputes in a peaceful manner. Laws also facilitate orderly change by spelling out acceptable processes for instituting change. Constitutional laws outline what governments can and cannot...
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...The issues involved in resolving legal disputes in international transactions should always include an international arbitration for resolving disputes internationally. It should have legal backing to administer the legal contracts with international transactions. Therefore, a dispute resolution section should be included in the event that there are any violations that state a method of a resolution, such as litigation, arbitration and jurisdiction of the courts. There should be some practical consideration of taking legal action against a foreign business partner based in another country or countries where foreign business is regularly conducted. For instance, the laws in other countries do not hold up in the United States, additionally, the laws of the United States will not hold up in a foreign country. Therefore, it is important that you are fully aware of the laws in any and all of the countries in which your business is being conducted and ensure that any legal contracts you enter in to with these businesses in foreign countries are legal and binding in both countries and that it will be upheld accordingly. Also, make sure that everyone involved in said businesses understands these caveats and will follow the letter of the law when dealing with your business and those dealings with other countries. Otherwise, you could find yourself and your business dealing with the possibility of having to navigate the waters of international business and their laws. ...
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...general guideline for ethical standards and rules to follow. The law also provides ways to uphold the rules and ways to settle disputes. If there were no laws to govern what we as people do within our businesses, it would be hard for society to function properly. The law of the United Stated breaks down into Treaties, Ordinances, Executive Orders, Constitution, Common Law, and Statutes. In my current profession at Southwest Gas I see laws affect each department in different ways. Southwest Gas implemented an entire legal department which consists of Lawyers, Paralegals and a Risk Management Team. In my limited experience with the company I have yet to see all aspects of the company that are affected by the functions of law. The Lawyers do most of the behind the scenes things that we as employees don’t see much of. The Paralegals draft legal letters that we as employees may need for miscellaneous reasons. The Risk Management Team is the front line of our Legal team out in the field. The Risk Management Team responds to employee vehicle accidents to document any particulars that may be need in court, while on scene they decide on employee drug tests and do most of the communication with authorities on scene. When Southwest Gas Construction Crews are involved in incidents that affect the gas to large areas of town including business, the Risk Management team surveys and assess the amount of damage and loss of revenue to assist in rapid payoffs to avoid legal action against the company...
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...Due diligence should be done before, during and after an international agreement. “Whenever a U.S. firm enters into a contract situated in a different country, it should make sure the agreement is officially enforceable.” (Melvin, 2011) Each company must understand the international trade regulations, mandates and laws; in addition to the cultural nature of their international business partner. Continuous legal and business discovery will allow for intentional neutrality in both good and threatening situations. The ultimate repercussion of taking legal action can result in the foreign partner banning the other party from carrying out future business within their country. When a company enters in to sublicensing agreements the legality becomes more complex and involves more entities, thus increasing the change of a legal dispute. The previous agreements will need to be reworked to include the sublicensing agreements from other entities to ensure protection against future clauses and financial losses. CadMex should understand that over saturation could become hazardous to their overall goals. Each sublicense agreement CadMex will absorb and become liable for: financial loses or gains, employee misconduct or achievements and the corporation right or wrongdoings. When there is a conflict while operating internationally, the organization operating abroad will have to subdue to the local customs and laws of the country that it’s conducting business in. For example, if an American...
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...LAW 421 WEEK 2 Individual Assignment Addressing International Legal and Ethical Issues Simulation Summary University Of Phoenix Complete the Addressing International Legal and Ethical Issues simulation located on the student website. Write a 350-word summary of the simulation using APA format. In your paper, answer the following questions: * What are the issues involved in resolving legal disputes in international transactions? * What are some practical considerations of taking legal action against a foreign business partner based in another country? * What factors could work against CadMex's decision to grant sublicensing agreements? * When the local customs and laws conflict with the customs and laws of an organization operating abroad, which should prevail? Explain why. * How would you compare the issues in this simulation to the domestic legal issues discussed in your Week One readings? How should companies resolve domestic and international issues differently? Use a minimum of 3 peer-reviewed articles from the University of Phoenix Online Library to support your positions. Addressing International Legal and Ethical Issues Simulation Summary NAME: DATE: LAW 421 INSTRUCTOR: Once I finished participating in the simulation I began to see many problems when it came to the practices and the resolving of international transaction disputes. I took some resourcefulness to navigate through difficulties of working with two separate...
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...Addressing International Legal and Ethical Issues Simulation Summary LAW/421 March 26, 2013 Addressing International Legal and Ethical Issues Simulation Summary The simulation “Addressing International Legal and Ethical Issues” discusses the contract between CadMex, a United States pharmaceutical company based in Tampa, Florida with Gentura, a biotechnology company based in the small, developing country of Candore. Explicitly defining contract terms is imperative. Even with international courts, the interpretation and enforcement of international law is sometimes based on expectations of reciprocal behavior rather than legal sanctions (Melvin, 2011). Factors in the resolution of legal problems in international transactions include political situations, international laws, cultural issues, contractual issues, local laws of the other country, and the forum selection clause. There are many considerations when legal action is taken against a partner in business in another country. One must look at the government of the country and if the country is a member of the World Trade Organization (WTO). Candore is a dictatorship, which would have an effect on legal proceeding in that country. The political and economic climate should be considered along with religious and cultural issues. Another consideration is to have an attorney from the other country to counsel and interpret their laws. The contract must specify the laws that will govern (American, local, or popular international)...
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