Addressing International Legal and Ethical Issues
February 24, 2014
When organizations engage in business in other countries by partnerships or by independent operations, many factors should be taken in consideration. The following paper discusses some of the issues discussed in the simulation on addressing international legal and ethical issues. Also a review of the issues involved in resolving legal disputes in international transactions. Some of the issues are selecting local counsel, fully understanding the foreign laws, due diligence, and choosing the right law and dispute resolutions for any disagreement or contract breach. This paper also discusses some factors of the CadMex and Gentura partnership. How local customs and laws can affect and how they could conflict in international business. A brief review of how companies should resolve domestic and international disputes differently than the companies discussed in the week one readings.
Being well informed of the procedures and considerations on how to address international legal and ethical issues is indispensable in the development of strong business relationships with foreign businesses. Many issues involved in resolving international legal disputes including selecting local counsel, full understanding of the local laws, due diligence, and the choices surrounding law and dispute resolution must be considered in order to make good decisions when conducting business abroad. Through the simulation, the factors that could work against the decision for CadMex to grant sublicensing agreements were many but with good understanding of the law and its channels it was a good deal for the company. Laws and customs of different countries conflict, especially when businesses are managed by the government. The issues Involved in Resolving International Legal Disputes include Selecting local counsel Local counsel should be selected in both countries involved in business transactions, in...