Law421/ week 5 final team
Addressing International and Ethical Issues
Christy Caruthers, Arsonia Fisher, Andrew Gunn-Wilinski, Andrew Lombardo, Wade Hall, Claudia Pino
Law 421/Contemporary Business Law
May 4, 2014
Instructor: Charles (C.J.) Hughes
Addressing International Legal and Ethical Issues
This week simulation involved two companies; CadMex Pharma a pharmaceutical
Company based in the United States and Genture a biotechnology company based in Candore.
Genture developed a new drug for diabetes and is looking to partnership with CadMex to manufacture and market the drug at an international level. This week’s provides a brief overview of international legal and ethical issues in international transactions.
Before taking legal action against a foreign business partner it is important to take into consideration different laws, political situations, prevailing international laws, and cultural influence have a major impact on international markets. Usually, international arbitration is the most appropriate venue to resolve any disputes between both companies. It is also important to factor in issues such political climate and sublicensing when making decisions as these could drastically affect an international partnership.
The granting of sublicensing could have a negative affect and different factors need to be evaluated before proceeding. For instance, sublicensing could erode Cadmex's profit share, and pose a risk, if the licensee is producing and selling patented pharmaceuticals on the open market. According to University of Phoenix Addressing International Legal and Ethical Issues (2014), under TRIPS,Article 31(f) allows for compulsory licensing of pharmaceuticals in the event of a health emergency; given the political climate in Candor, it could lead to such misuse by way of such a government declaration. If CadMex's agreement is not properly executed, it could allow the sub licensee to extend that license to others, leading to a licensee
Christy Caruthers, Arsonia Fisher, Andrew Gunn-Wilinski, Andrew Lombardo, Wade Hall, Claudia Pino
Law 421/Contemporary Business Law
May 4, 2014
Instructor: Charles (C.J.) Hughes
Addressing International Legal and Ethical Issues
This week simulation involved two companies; CadMex Pharma a pharmaceutical
Company based in the United States and Genture a biotechnology company based in Candore.
Genture developed a new drug for diabetes and is looking to partnership with CadMex to manufacture and market the drug at an international level. This week’s provides a brief overview of international legal and ethical issues in international transactions.
Before taking legal action against a foreign business partner it is important to take into consideration different laws, political situations, prevailing international laws, and cultural influence have a major impact on international markets. Usually, international arbitration is the most appropriate venue to resolve any disputes between both companies. It is also important to factor in issues such political climate and sublicensing when making decisions as these could drastically affect an international partnership.
The granting of sublicensing could have a negative affect and different factors need to be evaluated before proceeding. For instance, sublicensing could erode Cadmex's profit share, and pose a risk, if the licensee is producing and selling patented pharmaceuticals on the open market. According to University of Phoenix Addressing International Legal and Ethical Issues (2014), under TRIPS,Article 31(f) allows for compulsory licensing of pharmaceuticals in the event of a health emergency; given the political climate in Candor, it could lead to such misuse by way of such a government declaration. If CadMex's agreement is not properly executed, it could allow the sub licensee to extend that license to others, leading to a licensee