INTERNATIONAL MARKETING MANAGEMENT
2.2 INTERNATIONAL MARKETING MANAGEMENT
Q2.The legal environment of foreign marketing takes an added dimension of importance since there is no single uniform commercial law which governs foreign business transactions.” – Comment.
International marketers must be aware of the legal environments that they operate in. As there is no uniform international law regarding business transactions, companies can find themselves wasting money or in legal issues if they do not operate according to the laws in the specific countries they are in. The customs, politics, and geography vary greatly from country to country and are affected by the legal environment. It is extremely important that international markers are aware of this added dimension and are prepared.
No single, uniform international commercial law governs foreign business transactions. The foundation of a legal system Profoundly affects how the law is written, interpreted, and adjudicated Laws governing business activities within and between countries An integral part of the legal environment of international business .Four heritages form the basis for the majority of the legal systems of the world
Common law, Civil or code law, Islamic law, and Marxist-socialist tenets
Common law
Derived from English law. England, U.S., Canada and countries who were once under the English influence. Seeks interpretation through the past decisions of higher courts which interpret the same statues. Applies established and customary law principles to a similar set of facts
Civil or Code law derived from Roman law. Germany, Japan, France and non-Islamic and non-Marxist countries. All-inclusive system of written rules (codes) of law: Legal system is generally divided into three separate codes 1.) Commercial 2.) Civil 3.) Criminal
Ownership is determined by registration. Considered complete as a result of catchall provisions found in most code-law systems
Islamic law
Places emphasis on the ethical, moral,
Q2.The legal environment of foreign marketing takes an added dimension of importance since there is no single uniform commercial law which governs foreign business transactions.” – Comment.
International marketers must be aware of the legal environments that they operate in. As there is no uniform international law regarding business transactions, companies can find themselves wasting money or in legal issues if they do not operate according to the laws in the specific countries they are in. The customs, politics, and geography vary greatly from country to country and are affected by the legal environment. It is extremely important that international markers are aware of this added dimension and are prepared.
No single, uniform international commercial law governs foreign business transactions. The foundation of a legal system Profoundly affects how the law is written, interpreted, and adjudicated Laws governing business activities within and between countries An integral part of the legal environment of international business .Four heritages form the basis for the majority of the legal systems of the world
Common law, Civil or code law, Islamic law, and Marxist-socialist tenets
Common law
Derived from English law. England, U.S., Canada and countries who were once under the English influence. Seeks interpretation through the past decisions of higher courts which interpret the same statues. Applies established and customary law principles to a similar set of facts
Civil or Code law derived from Roman law. Germany, Japan, France and non-Islamic and non-Marxist countries. All-inclusive system of written rules (codes) of law: Legal system is generally divided into three separate codes 1.) Commercial 2.) Civil 3.) Criminal
Ownership is determined by registration. Considered complete as a result of catchall provisions found in most code-law systems
Islamic law
Places emphasis on the ethical, moral,