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International Legal and Ethical Issues Paper

Essay by   •  April 30, 2012  •  Essay  •  359 Words (2 Pages)  •  8,201 Views

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The International Legal and Ethical Issues Paper

In resolving legal disputes in international transaction you must determine which laws will be applicable. Each party must agree upon which laws will have a binding affect upon the contract. It could be either party's country of origin court system or they could use (CISG) Contracts for the International Sale of Goods. Another issue to resolve is to decide which forum to use to settle disputes. They could use the International Court of Justice. In the case of our simulation, it would be best to use an International Arbitrator since Candore's court system could have political influence.

When considering the practicality of taking legal action against a foreign business partner you must consider cultural and ethical differences between the countries. This is inherent when you are dealing with international business. If a transaction took place without defining these issues you may have a lengthy process in which to finalize those details before you could start litigating.

Factors that could work against CadMex's decision to grant sublicensing is that Gentura in its financial best interest could violate their non-disclosure agreement and potentially sell CadMex's proprietary information to the highest bidder. The country of Candore would also benefit from Gentura because the country would also prosper from the financial gain.

When local customs and law conflict with the customs and laws of an organization operating abroad, the laws that were specified in the contract should prevail. With the exception of countries that are signatories to the CISG, they are defaulted to use CISG as the prevailing law.

The issues in this simulation are similar in nature to the ones we read about in week one in the fact that they both discuss the relevance of where a lawsuit should be heard (federal vs. state court; which state? etc.). These issues are similar to international business because the choice of law and venue are extremely important in conducting international business. Companies should resolve all matters, domestic and international, in the best interest of the company; in my opinion that would be utilizing arbitration in most matters.

References

University of Phoenix Simulation (2011). Retrieved from: https://ecampus.phoenix.edu/secure/aapd/vendors/tata/UBAMSims/business_law1/intl_legal_ethical/business_law1_intl_legal_ethical_frame.html

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