In week two of LAW/421 there has been an objective set forth in addressing international legal and ethical issues based upon the web simulation. Amongst this objective there has also been a list of questions given to anchor the body of the summary. Addressed in this summary will be the issues involved in resolving legal disputes in international transactions.
Another key factor in this summary will be the discovery of practical consideration of taking legal action against a foreign business partner based in another country.Finding out what factors that could work against CadMex’s decision to grant sublicensing agreements is also another question that will be spoken on. The explanation of why local customs and laws conflict with the customs and laws of an organization operating abroad along with explaining which shall prevail will too be discussed. The final question being incorporated into this summary is the comparison of issues in the simulation to the domestic legal issues discussed in week one reading along with explaining how companies should resolve domestic and international issues differently.
What are the issues involved in resolving legal disputes in international transactions? The issues involved in resolving legal disputes in international transaction ultimately would be money. The biggest issue with money is that it is a fight over who is going to receive it and who is not. For the sake of resolving or preventing legal disputes in international transactions legal backing in efforts to enforce contracts with cross-border multi-jurisdiction should be established.What are some practical considerations of taking legal action against a foreign business partner based in another country? Contractual legal agreements should be drawn upon starting a business. Between the foreign business partners based in another country there must be an agreement and legally enforceable. Despite the legal aspects of international business there too is a need to consider cultural and ethical behaviors eventually developed that my negative affect business in the long-run.
What factors could work against CadMex's decision to grant sublicensing agreements? Lawsuits could surface based upon negligence of a third person. Any time something outside of the agreement or damage of property by an employee the company would be held liable for this negligence. Also Gentura could violate its non-disclosure agreement and eventually sell CadMex’s ownership information to the highest bidder. When the local customs and laws conflict with the customs and laws of an organization operating abroad, which should prevail? Whenever a business has more than one location in various counties, that business must comply with the compliance and prevail of laws and customs of those nations.ConclusionIn this summary all of the main topics were discussed and explained such as the issues in resolving legal disputes in international transactions.
The factors of sublicensing agreements that could work against CadMex also were another main topic. The information gathered within this summary could be a vital tool in learning the matters in addressing International Legal and Ethical Issues.
