...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? From the chapters in week one’s readings and the scenario that was presented in the simulation, it appears that the only real difference between international and domestic issues are how they are handled. In the simulation, the employee had to come up with a decision that was beneficial for the American company as well as the foreign company. This is the same when two domestic companies decide that they are going to work together. They have to decide on a contract that benefits them both and on other issues, such as how they will resolve an issue if one should occur. Both international and domestic entities seem to prefer the arena of arbitration and mediation to actually going to court. For international issues, there is an institution known as The World International Property Organization (WIPO) that is located in Geneva, Switzerland and it, “created an arbitration center for arbitration related to intellectual property such as patents, trademarks, and copyrights” (Melvin, p. 639). One huge difference is the laws that are used in different countries when issues are taken to arbitration. African and Asian countries use what is known as civil law systems. They do not want the courts to use cases of similar background to be used as a basis for a decision in another case. The...
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...|[pic] |COURSE SYLLABUS | | |School of Business | | |LAW/421 Version 1 | | |Contemporary Business Law | Copyright © 2011 by University of Phoenix. All rights reserved. Course Description This course reviews the U.S. legal system, common law and its development, organizational structures, and the regulatory environment pertinent to business. Students will learn to critically examine torts, crimes, and business ethics. They will also examine contracts; business associations including agencies, partnerships, and corporations; wills, estates, trusts, and other legal entities; securities regulations; and investor protections. Policies Faculty and students/learners will be held responsible for understanding and adhering to all policies contained within the following two documents: • University policies: You must be logged into the student website to view this document. • Instructor policies: This document is posted in the Course Materials forum. University policies...
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...LT A Reflection Week 3 Jan McKenzie, Jeremy Sawyer LAW/421 December 9, 2013 Aretha Somerville LT A Reflection Week 3 In the second week, one of the topics covered was the area of copyrights. These were basic rules and regulations brought about to help protect an individual or business’ intellectual property. The advent of cyberspace brought about further issues that forced Copyright Laws to adapt to the rapid changes technology brought with it. To begin with, one team member looked at the origin of copyright law. Its creation in 1976 was to protect the “rights of literary property as recognized and sanctioned by positive law.” (Melvin, 2011, p. 612). It protects authors, songwriters, musicians, and any other owner of original literary or artistic production of having their work copied without some compensation. In order for something to be copyright protected, the property in question must be original, creative and fixed in a durable medium such as a book or digital media. The rise of file sharing was an interesting area to examine as it forced copyright law to evolve in order to cover the internet and the challenges it brought with it. The ability to share files in a peer-to-peer format saw a lot of copyrighted items, primarily MP3s at first, to be shareable between users of the internet. This brought about the passing of the Digital Millennium Copyright Act (DCMA) in 1998, which, according to Melvin, 2011, “an attempt to modernize copyright law to deal with the...
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...Week2 Paper International trade can raise a lot of issues. Something so complex requires proper knowledge awareness. The conflicts that can arise in international trade can vary, legal disputes being one of them. When companies decide to do business internationally a contract is drawn. A legal dispute can arise if the contract is broken in any way. In the “Addressing International Legal and Ethical Issues” simulation Cadmex opted out of taking legal actions when the contract was breached do to Gentura unforeseen issues. A huge issue in resolving legal issues can also be the difference in laws in each country. The cost of resolving these issues can cost more then a company can afford. A practical consideration for taking legal actions against a foreign business partner could be to consider the need for legal action. Gentura unfortunately had a viral outbreak and the demand had risen extremely. Gentura needed to lower the retail price for the vaccine which was breaching their contract. Something such as this should be considered when considering taking legal action. The viral outbreak is more important then the contract and the contract can be adjusted. A way to try and avoid legal issues could be to clearly discuss the law that will govern the business decisions. Some factors that could work against CadMexs decision to grant sublicensing could be the amount of manufacturing that is done. Genturas demand could decrease causing less production, or marketing. When customs and local...
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...Addressing International Legal and Ethical Issues Summary Donna Bass LAW/421 January 18, 2016 Andrew McAdams Addressing International Legal and Ethical Issues Summary When operating a business internationally, there are legal and ethical issues that must be taken into account. The simulation shows that to be successful; a company must understand the issues involved in legal disputes, the practical considerations of taking legal action, what factors can work against the company, and what to do when customs and laws conflict. The issues that can arise when trying to resolve legal disputes in an international transaction can be cultural, ethical, political, and differences in power structures. Before taking legal action, arbitration should be considered as it is less expensive and the outcome would likely be more beneficial that dealing with a foreign court system (University of Phoenix, n.d.). Before taking legal action against a foreign business partner, there are practical considerations to take into account. The cost of legal fees and the chance of winning a court battle against this partner in a court of their country should be considered. Another is the damage that a lawsuit could have on the company's reputation. This action could hurt their chances of obtaining future international partners. Factors that could work against the granting of the sublicensing agreements by CadMex include the fact that the Canadian government and legislators would work to prevent the...
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...Week 2 Simulation Paper After completing the Addressing International Legal and Ethical Issues simulation on the student website I have come to some conclusions on the questions presented in the syllabus. We will discuss 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? How will I compare the issues in this simulation to the domestic legal issues discussed in week one readings? How should companies resolve domestic and international issues differently? Discussing the issues involved in resolving legal disputes in international transactions you must consider possible changes in legislation, clashes of interest, and ethical dilemmas. When entering a transaction with another country you need to make sure that the agreement is legally binding and enforceable. You also need to consider cultural and ethical differences inherent in such business transactions. What some of the practical considerations of taking legal action against a foreign business partner based in another country are as follows you need to make sure the contract protects your company’s interest within the foreign country in which you are operating against...
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...Addressing International Legal and Ethical Issues International Legal and Ethical Issues In international transactions there are many issues that must be addressed at the onset. If legal action should arise against a foreign business partner, there will be practical concerns. There could be factors that work against international business decisions. Local laws and customs will be different in a foreign country. In a situation in which the local laws and customs conflict with those of the foreign business partner it is difficult to determine who should prevail because of these differences. For that reason, it is important that business transactions be governed by a well-defined agreement from the beginning. When a company does business in another country it is important that the companies agree on choice of law and jurisdiction upfront. In the simulation, there was an outbreak of an epidemic that affected the business relationship between CadMex and Gentura (University of Phoenix). Had the companies not determined choice of law and jurisdiction for dispute resolution, CadMex could have suffered more severe financial losses because of the forced subsidization of generic medication. By agreeing upon choice of law and jurisdiction in the beginning, the companies had a pre-defined forum for resolving unforeseen disputes. When taking legal action against a foreign business partner there are also additional practical considerations...
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...Week 4 Reflection LAW/421 June 15, 2015 Elizabeth Manassau Week 4 Reflection “A contract is promise enforceable by law to either do something or refrain from doing something” (Melvin (2011). We deal with contracts or agreements on a daily basis, it happens everywhere. There are four elements of a contract. First is the agreement, which includes two parts: offer and acceptance, this indicates mutual assent, the second one is consideration, which indicates the values that must be bargained for between the parties. The third element is capacity, requiring both parties to have the power to contract, finally, the last element is legality it meaning that the terms of the contract is legally enforceable (Melvin, 2011). There are some common contracts that everyone will eventually be a party to, for example: an apartment or house lease contract, an employment contract, and a contract for the selling of a house or car. Everyone in our team has signed one of those agreements. We are all familiar with the apartment or house lease contract which is an agreement between the landlord, or property owner and the tenant. Both sides agree to lay down and follow a set of rules, for example: the length of the lease, the amount of rent, the due date of the rental, security deposit, late charge, amount of occupants, pet policy, property maintenance, change of terms, termination, attorney fees, insurance, keys and addendums, receipt of agreement, etc.... After reading through...
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...LAW/421 October 27, 2014 Richard Simon Role and Functions of Law Without law there would be no order in our everyday lives. The law is intended to create order where there would otherwise be chaos, to set boundaries to keep this order and to protect people against wrong doing. The law is a guide to what is and is not acceptable behavior both in society and in business practices. The law allows people to embrace freedom and justice and live within a fair society. Business law deals with the creation of new businesses and the issues that arise within current businesses (Business Law). The law allows government rule that is intended to allow society and businesses to operate effectively and efficiently. According to Melvin law is “a body of rules of action or conduct prescribed by controlling authority, and having legal binding force” (Melvin, 2011). The law aids individuals, businesses and the government in normal everyday operations and in more perilous times. The law is meant to be enforced and reinforced when they are not followed. The law affects the way that businesses are formed and structured. Once business is up and running the law continues to regulate business practices to ensure that rules are being followed and everyone is treated fairly from the employees to the consumers to the suppliers and so forth. According to the law there are certain standards of practice that must be adhered to in business. The law not only helps structure...
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...Week 3 Individual Paper LAW/421 August 18, 2014 Rob Tischer Week 3 Individual Paper When an individual is looking to receive a specific product or service from another individual a contract is a viable piece of the puzzle. When you look at the different aspects of how a contract comes about both parties have to be aware of all the outlying terms and conditions. Mary displayed an offer to Liam and Mike to paint her house for a specific amount of $2500.00 dollars. When she spoke the terms of what service she wanted to receive from these two individuals she was speaking aloud an offer. A contract is formed when four viable steps are taken; offer, acceptance, intent of legal consequences, and consideration (Melvin, 2011). The offer had been presented to willing individuals that listened to her offer of painting her house and they decided that they would accept the $2500.00 to perform the service. The next phase of this contract would be the intent to enter into a legal contract with both parties in agreement. This is where there is error in this particular arrangement because Liam and Mike didn’t let Mary know that they accepted the terms and conditions with painting her house. If Liam and Mike would have made contact with her then she would have been able to tell them that she had changed her mind with the terms and would rather not enter a legal contract with them. Liam and Mike had one thing in their favor which is that the offered was expressed in front of a witness...
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...Big Time Toymaker At what point, if ever, did the parties have a contract? BTT paid Chou $25,000.00 to have exclusive rights for negotiations for a 90 day period. Big Time Toymaker and Chou did not have a binding enforceable contract made during this 90 day period. An oral distribution agreement was made three day before the 90 days deadline, but it was in the negotiations. But the negotiations said that there was not supposed to be an agreement unless it was in writing. Three days before the deadline, after the meeting Chou offered to draft the contract that would formalize their agreement. Before Chou could finish the draft, an e-mail was received from a BTT manager. The e-mail repeated the key terms of the distribution agreement including price, time frame, and obligations of both parties. Chou stopped working on the draft for one month, because he believed that BTT was going to draft the contract. During this time the 90 days had passed and it voided any agreement of the 90 days agreement that BTT and Chou had (Melvin, 2011 pg. 136). What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? The facts that weigh against Chou’s in terms of the parties’ objective intent to a contract are that there was no written agreement, which was required in the negotiations. There was also no signatures were used to make the contract official. The word contract was never used in the email sent from BTT. Also the 90 day deadline that was...
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...As companies conduct business internationally there are many issues it must be knowledgeable about to operate successfully. Two issues that were explored during Law/421 in week two’s simulation were how to address legal and ethical situations that arise when conducting business abroad. When resolving legal disputes in international transactions one must be aware of international and local laws. It is also important to know the customs and culture of the area where business transactions are taking place. Prior to conducting business abroad a choice of law must be established before any conflict arises. This will yield a resolution to the conflict that will be favorable for both parties. When taking legal action against a foreign business partner based in another country one should consider the laws of that country. Laws in others countries differ from those in the United States. Also when considering taking legal action on a company, one must analyze all possible cause and effects from that legal action. Taking legal action may be the company’s right to do, but it may cause negative customer relations in the area. In the simulation, CadMex’s decision to grant sublicensing agreements could be beneficial to the company yet work against the company. Sublicensing may cause the company to be liable in lawsuits due to the negligence of those sublicensed parties. When local customs and laws conflict with the customs and laws of an organization operating abroad, the laws...
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...Big Time Toy Maker Law / 421 Big Time Toy Maker 1. At what point, if ever, did the parties have a contract? Yes, both parties had a valid contract when they agreed upon the terms of the deal. They both agreed upon the terms and Chou accepted the twenty five thousand dollars from Big Time Toymaker. A written agreement was not needed due to BTT being only a distributer and not a producer. 2. What facts may weigh in favor of or against Chou in terms of the parties’ objective intent to contract? Chou was paid twenty five thousand dollars by BTT for the negotiation rights to his house board game. This could have given Chou the impression that the contract was finalized. This would be considered a bilateral contract due to two promises and two performances. BTT would perform by distributing the product but would first promise to pay the twenty five thousand dollars. Chou promised to sell the negotiation rights and the performance was to turn them over to BTT for twenty five thousand dollars. 3. Does the fact that the parties were communicating by e-mail have any impact on your analysis in Questions 1 and 2 (above)? Since both parties were communicating through email, it does not have an impact on my analysis because of the factors stated earlier of a binding contract. The emails do reinforce the contract in the courts. 4. What role does the statute of frauds play in this contract? The statue of fraud applies to a sale of goods above 500 dollars. Since this...
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...Role and Functions of Law Paper September 12, 2012 Valentine Castillo, J.D Roles and Functions of Law Paper Introduction Without law our world would be inundated with corruption and criminal behavior. Organizations would seize to exist and the government would have no control over the economy or society. The thought of the United States operating without law is very disturbing and unnerving. It is unimaginable to think how businesses and society would function without law. Melvin (2011) perfectly defines law as “the body of rules of action or conduct prescribed by controlling authority and having real binding force.” There are reasons why law is crucial for the survival of our country therefore it is the purpose of this paper to define the functions and role of law in business and society. It will briefly discuss the suit Cipollone V. Leggett Group, Inc., et al – and which laws played a role in the suit. Final the paper will address the function of law in an industry. Roles and Functions of Law Corporate America plays a huge role in our lives as professionals and as members of society. There are a multitude of laws that play a significant role in ensuring that both society and businesses are legally protected against criminal acts such as fraud, extortion and embezzlement – just to mention a few. Some of the laws that are intertwined with both society and Corporate America are substantive law, procedural law, criminal law, civil law, common law...
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...Role and Functions of Law Paper September 12, 2012 Valentine Castillo, J.D Roles and Functions of Law Paper Introduction Without law our world would be inundated with corruption and criminal behavior. Organizations would seize to exist and the government would have no control over the economy or society. The thought of the United States operating without law is very disturbing and unnerving. It is unimaginable to think how businesses and society would function without law. Melvin (2011) perfectly defines law as “the body of rules of action or conduct prescribed by controlling authority and having real binding force.” There are reasons why law is crucial for the survival of our country therefore it is the purpose of this paper to define the functions and role of law in business and society. It will briefly discuss the suit Cipollone V. Leggett Group, Inc., et al – and which laws played a role in the suit. Final the paper will address the function of law in an industry. Roles and Functions of Law Corporate America plays a huge role in our lives as professionals and as members of society. There are a multitude of laws that play a significant role in ensuring that both society and businesses are legally protected against criminal acts such as fraud, extortion and embezzlement – just to mention a few. Some of the laws that are intertwined with both society and Corporate America are substantive law, procedural law, criminal law, civil law, common law...
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