Addressing International Legal And Ethical Issues Simulation Summary
Addressing International Legal and Ethical Issues Simulation Summary
Thomas joe
Law/421
November 24th, 2014
Kathryn Harris
Introduction Being well informed of the procedures and considerations on how to address international legal and ethical issues is crucial 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 measured in order to make good choices when performing business abroad. Through the simulation, there were many factors that could work against the decision for CadMex to grant sublicensing agreements but with good understanding of the law it was a good deal for the company. Laws and customs in different countries can be conflicting, especially when businesses are managed by the government.
Resolving legal disputes in international transactions
Selecting local counsel
In a business transaction, local counsel should be selected in both countries involved. This is an important step to be completely sure that all legal aspects have been covered. In the case of partnerships, both organizations should be well educated about the law related …show more content…
The fact is that domestic law has nothing to do with international law and companies should be ready to face any issue that could appear. The second week material offered more information on how to handle international issues. The forum selection is the most important thing to do when trying to avoid future conflicts of law. Litigation and arbitration are the best options for organizations involved in international disputes. Legal advice or counseling is a useful resource that could help avoid confusions and setbacks in the future; it is always better to be
Thomas joe
Law/421
November 24th, 2014
Kathryn Harris
Introduction Being well informed of the procedures and considerations on how to address international legal and ethical issues is crucial 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 measured in order to make good choices when performing business abroad. Through the simulation, there were many factors that could work against the decision for CadMex to grant sublicensing agreements but with good understanding of the law it was a good deal for the company. Laws and customs in different countries can be conflicting, especially when businesses are managed by the government.
Resolving legal disputes in international transactions
Selecting local counsel
In a business transaction, local counsel should be selected in both countries involved. This is an important step to be completely sure that all legal aspects have been covered. In the case of partnerships, both organizations should be well educated about the law related …show more content…
The fact is that domestic law has nothing to do with international law and companies should be ready to face any issue that could appear. The second week material offered more information on how to handle international issues. The forum selection is the most important thing to do when trying to avoid future conflicts of law. Litigation and arbitration are the best options for organizations involved in international disputes. Legal advice or counseling is a useful resource that could help avoid confusions and setbacks in the future; it is always better to be