REVIEW SUMMARY
Addressing International Legal and Ethical Issues Simulation Summary
Michael Moore
LAW/421
SEP/ 15/ 2014
Robert Kinsella
Addressing international legal and ethical issues summary
The issues of resolving legal disputes in international transactions occurs frequently. Many companies involved with international transactions must be enforced in contracts between companies and countries. Just as in the simulation between the U.S. CadMex and Gentura located in Candore had to do. Without this, if a company needs to take legal action against one another then they have to figure out where to resolve this and how to go about it. Making sure that this is in the contract in the first steps will help to resolve legal disputes easier. Also this would be practical for the company to decide on the type of law whether to go with foreign or there homeland. As in the simulation some of the laws were both domestic and foreign. This sometimes can take a while for all parties to agree on, as many of the laws are different in each country.
Some factors that could work against CadMex’s decision to grant sublicensing would be that they could lose control of there drug ProPrez and may lose there contract with Candorean government. This would mean whom they sublicensed to could sell there product cheaper and CadMex would lose a huge profit. Many of the sources that use the drug ProPrez would save and go for the cheaper genric drug. The Candorean government may see this as a profit for them and could reject resigning an agreement with CadMex. This would be a huge hit on the company and may result in a breach of contract and come down to a lawsuit.
I feel that since the product is developed in Candore, then local customs and laws should prevail over the customs and laws of the United states. I feel that we as Americans have our customs and laws and we do ask others to understand ours, so we should out of respect and consideration to the Candorean government. The contract
Michael Moore
LAW/421
SEP/ 15/ 2014
Robert Kinsella
Addressing international legal and ethical issues summary
The issues of resolving legal disputes in international transactions occurs frequently. Many companies involved with international transactions must be enforced in contracts between companies and countries. Just as in the simulation between the U.S. CadMex and Gentura located in Candore had to do. Without this, if a company needs to take legal action against one another then they have to figure out where to resolve this and how to go about it. Making sure that this is in the contract in the first steps will help to resolve legal disputes easier. Also this would be practical for the company to decide on the type of law whether to go with foreign or there homeland. As in the simulation some of the laws were both domestic and foreign. This sometimes can take a while for all parties to agree on, as many of the laws are different in each country.
Some factors that could work against CadMex’s decision to grant sublicensing would be that they could lose control of there drug ProPrez and may lose there contract with Candorean government. This would mean whom they sublicensed to could sell there product cheaper and CadMex would lose a huge profit. Many of the sources that use the drug ProPrez would save and go for the cheaper genric drug. The Candorean government may see this as a profit for them and could reject resigning an agreement with CadMex. This would be a huge hit on the company and may result in a breach of contract and come down to a lawsuit.
I feel that since the product is developed in Candore, then local customs and laws should prevail over the customs and laws of the United states. I feel that we as Americans have our customs and laws and we do ask others to understand ours, so we should out of respect and consideration to the Candorean government. The contract
References: University of Phoenix. (2014). Addressing International Legal and Ethical Issues Simulation [Multimedia]. Retrieved from University of Phoenix, LAW421 website.