Application of International Law

Latrishia Gross

Argosy Univeristy  BUS215

Application of International Law

Latrishia Gross

Argosy Univeristy  BUS215

Application of International Law

What laws govern arbitration in the U.S.?  In Russia?

The Monarch Associates entered into a joint partnership with a Russian technology company Vladir Unlimited. This is an agreement that would mean both parties would be working together on a certain one project. These companies basically entered into a joint venture which is “a form of business organization identical to a partnership, except acknowledgment that this is a single project, not carrying on a business” (Mallor, 2013). Also, according to Jane Mallor “When individuals, partnerships, or corporations make a private agreement to finance, produce, and sell goods, securities, or commodities for a limited purpose and/or a limited time, they have formed a joint venture”.

Joint ventures business is the most popular agreement that business people enter into because it is a way for developing nations to attract foreign capital. The benefits and risks associated with a joint venture can be positive and/or negative. Some of the positive effect of a joint venture would be; access to new markets and distribution companies, increased capacities, sharing the risks with a partner, and having more access to the best resources and technology.

Some risks associated with joint ventures are the objectives and details of the venture are not always clear communicated properly to all parties involved in the venture and that can cause many different outcomes of an unsuccessful project. Also, the partners may have different objectives for the venture and that can cause that project to go under.

In which country should the dispute be handled?

The Vladir Unlimited company had an arbitration clause set into place which gave the company the rights to choose to have all disputes both legal and non-legal heard in Russia, by members of the Russian...