Summary: Addressing International Legal And Ethical Issues Simulation
Addressing International Legal and Ethical Issues Simulation Summary
November 25 2012
CadMex developed a business relationship with Gentura and starting doing business in Candore as a result. Candor was not a member of the WTO or any other international entity in the beginning but showed promise. Candore was a dictatorship and so was a politically unstable country, but it did have a working government and legal system. The purpose of the simulation was to safeguard the interests and intellectual property of CadMex both at home and overseas. Through choosing certain contract clauses, I was to create the best outcome either short-term or long-term for CadMex during each scenario presented to me.
What are the issues involved in resolving legal disputes in international transactions?
When resolving legal disputes in international transactions, the issues involved should include international arbitration. International laws and cultural differences vary so there is an importance for a reputable third …show more content…
Litigation in the simulation would not have provided the best outcomes for the companies. Creating a forum selection clause for international business is important because it plans out ahead of time and simplifies the processes of dispute resolution. Companies both domestic and international should define their dispute resolution processes early in their relationships. They differ because of the international laws along with cultural and ethical differences. Problems need to be addressed more carefully because of the differences. A sociological extension of this inquiry would be to take stock of the diverse social interests that account for differences in the conflict of laws from one national system to another and to work toward a set of solutions on the basis of mutual interests (Sciences,
November 25 2012
CadMex developed a business relationship with Gentura and starting doing business in Candore as a result. Candor was not a member of the WTO or any other international entity in the beginning but showed promise. Candore was a dictatorship and so was a politically unstable country, but it did have a working government and legal system. The purpose of the simulation was to safeguard the interests and intellectual property of CadMex both at home and overseas. Through choosing certain contract clauses, I was to create the best outcome either short-term or long-term for CadMex during each scenario presented to me.
What are the issues involved in resolving legal disputes in international transactions?
When resolving legal disputes in international transactions, the issues involved should include international arbitration. International laws and cultural differences vary so there is an importance for a reputable third …show more content…
Litigation in the simulation would not have provided the best outcomes for the companies. Creating a forum selection clause for international business is important because it plans out ahead of time and simplifies the processes of dispute resolution. Companies both domestic and international should define their dispute resolution processes early in their relationships. They differ because of the international laws along with cultural and ethical differences. Problems need to be addressed more carefully because of the differences. A sociological extension of this inquiry would be to take stock of the diverse social interests that account for differences in the conflict of laws from one national system to another and to work toward a set of solutions on the basis of mutual interests (Sciences,