Resolving Legal Disputes
Resolving Legal Disputes
1. What are the issues involved in resolving legal disputes in international transactions? The issues involved in resolving legal disputes in international transactions include but are not limited to the signing of contracts designed to protect both parties, choice of clause, which forum to use when settling a dispute and if arbitration, if used, will be binding or nonbinding. Something else to think about when resolving legal disputes in international transactions would be to gauge when the government stands in the legal proceedings and to find out if the particular countries government can overrule any decisions made by the companies. Other issues would include the political situation, dominant international laws and cultural issues that would influence the achievement or disappointment of the business venture.
2. What are some practical considerations of taking legal action against a foreign business partner based in another country? Some practical considerations of taking legal action against a foreign business partner based in another country include looking out for the best interest of the company your represent as well as future business ventures with the company or country you are in business with. One would also have to take into consideration economic, legal, and ethical associations. The economy of the country that you are contracted with may have ulterior motives in the business arrangement. There may be something that they are benefiting from that you are not. The legal issues may or may not coincide with the legalities of the company that you represent. To deal with that one must state clearly in the said contract where each party stands. Also the ethics of taking legal action, there are many differences in culture and religion that may or may not arise, if they do happen to arise reasonable accommodations must be made to avoid discrimination suits.
3. What factors could work against CadMex’s decision to grant sublicensing agreements? Factors that could work against CadMex’s decision to grant sublicensing agreements would be time and money. The time that it would take to set up facilities to be able to produce the drug and also the time it would take to ensure that each facility is working to meet the specific requirements and standards that we require. Money is a factor because it is what is required to set up, run, manufacture, and distribute the said drug. It also takes money to make certain that the sublicensed drug measures up to company ideals.
4. When the local customs and laws conflict with the customs and laws of an organization operating abroad, which should prevail? Explain why.
When the local customs and laws conflict with the customs and laws of an organization operating abroad, both should prevail because there are laws in both cases where if you abide by one set of laws you would be violating another set. In the simulation, there was a week in July where the locals were forbidden to shave although company policy states that they must be shaven. Local and organizational laws forbid discrimination against an employee because of religious beliefs. This was a special situation because a blend of both local and organizational laws was used to rectify the situation.
5. How would you compare the issues in this simulation to the domestic legal issues discussed in your Week One readings? How should companies resolve domestic and international issues differently? The issues in this simulation compare to the domestic legal issues discussed in my Week One readings because in both instances the domestic legal issues brought up the issue of arbitration and how to use it as a forum for settling legal issues. The reading in Week One explained how to use arbitration in a domestic sense rather than international. It also explained areas that may be a bit confusing to some. Companies should resolve domestic and international issues differently by specifying which authority disputes are referred.
University/College: University of Chicago
Type of paper: Thesis/Dissertation Chapter
Date: 31 October 2016
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