Addressing International Legal and Ethical Issues

Topics: Law, Philosophy, World Trade Organization Pages: 2 (615 words) Published: October 27, 2013


Addressing International Legal and Ethical Issues
LAW/421
October 14, 2013

Addressing International Legal and Ethical Issues
The “Addressing International Legal and Ethical Issues” simulation explored the factors one must consider when an American corporation enters an international contractual relationship with a foreign business partner. The issues presented are as follows: What are the issues involved in resolving legal disputes in international transactions? The legal issues involved in resolving legal disputes in international transactions are the selection of which set of laws to follow and the forum used for dispute resolution. Specificity used in writing international contracts provides a clear structure for resolving potential legal issues. When defining the set of laws to follow in an agreement, one’s selection must consider the respective laws and regulations of the countries of origin for both companies as well as the involvement of any multi-national organizations such as the World Trade Organization, also known as the WTO. When selecting a forum, one must select between local courts of either business partner or international arbitration, either binding or non-binding. What are some practical considerations of taking legal action against a foreign business partner based in another country? Local political climate, impact to future business, length of time for proceedings, and effect on local public goodwill are practical considerations when deciding on whether to take action against a foreign business partner. These factors will decide if the potential financial gain of such a move will outweigh the long term financial, ethical, and legal impact to all parties involved. Additionally, one must consider possible intervention from the American or foreign governments as well as prevailing international organizations. What factors could work against CadMex's decision to grant sublicensing agreements? Deciding to sublicense the...
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