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
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International Issues Aimee Head LAW/421 September 9‚ 2013 Kathryn Harris Abstract No two countries have the same political and legal system. Each country has its own laws and regulations on business and products. When doing business in another country it is important to know the laws and abide by them. Culture plays a huge part in a business’s success when venturing into a foreign market. Being sensitive to the cultural and religious beliefs in that country is important to a business’s long
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are established in that country. In the case of CadMex Pharma wanting to partner with Gentura in the country of Candore‚ the company faced the issue of having to abide by the laws of that country. The issues CadMex Pharma had to deal with were the idea that Gentura is bound by and coincides with the laws of Candore. Gentura is more obligated to its country of residence. Very few laws of the United States will have any matter in this country. CadMex Pharma also had to accept that there may be a
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could work against CadMex’s decision to grant sublicensing agreements? Many different factors would be against CadMex if the sublicensing were grated. For instance‚ the sublicensing companies must meet quality standars and production requirements of the ViroBlax medicine‚ the generic version of ViroBlax could become more popular than the original‚ encourage of uncontrolled piracy of drugs can raise‚ the government could declare compulsory licensing and CadMex could lose royalty payments if the
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International Legal and Ethical Issue University of Phoenix 2008 International Legal and Ethical Issues The “Addressing International Legal and Ethical Issues” simulation discusses the contract between a US pharmaceutical company called CadMex Pharma and a company called Gentura in the country of Candore. When international agreements are made‚ the company has to make sure that the contract is legal and the terms will be enforced. Defining contract terms explicitly is very critical. For
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simulation continued‚ the scenario came up that dealt with the granting of sublicensing agreements by CadMex when their product needed in a greater quantity than what they had already produced. One of the first problems that can arise for CadMex is a potential shortage of sub-paragraphs within the sub-licensing agreement that would be designed to enforce the agreement. Another problem would consist of having too many sublicensing agreements out and not having a proper system in place for monitoring
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The problem that CadMex could run into concerning sublicensing agreements is if they choose to develop them in multiple‚ by creating more of them it opens the door to multiple lawsuits. If CadMex were to forget to include the appropriate sub-paragraphs within the contracts‚ they may be held liable for any monetary damages that occur. There are a number of places that lawsuits could arise from including individuals and other businesses from within the sublicensing agreement (Melvin‚ 2011)
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Addressing International Legal and Ethical Issues Simulation University of Phoenix - ####### Learning Center Business Law BUS/415 #########‚ Instructor Introduction Upon completion of the University of Phoenix simulation "Addressing International Legal and Ethical Issues‚" I have outlined below several concerns that must be addressed prior to entering into any legally binding business contracts with international organizations. Prior to entering into international contractual business
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CadMex Pharmaceutical Memorandum To: Mr. Jack Brandt‚ CEO; Kera Sawyer‚ International Legal Counsel From: Dan‚ Vice President of International Business Development Date: March 9‚ 20XX Subject: Current Gentura Status I would like to take this opportunity to bring everyone up to date on the status of our relationship with Gentura. We have been working in partnership with Gentura a biotechnology company based in Candore since 2007. Candore‚ a small developing island country in South East Asia‚
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International Legal and Ethical Issues Simulation Summary International Legal and Ethical Issues Simulation Summary CadMex and Gentura negotiated the choice of law clause that specifies which law will be applicable and what forum to use if a dispute arises between them. They determined that non-binding international arbitration would not only suit their needs‚ but it would be less costly than litigation and would also expedite dispute resolution. The international arbitrator’s power in conflict
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