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Category: Business and Industry

Date Submitted: 11/28/2012 05:27 AM

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In this paper I will be summarizing up and addressing International Legal and Ethical Issues Simulation.

The issues involved in resolving legal disputes in international transactions are where two or more systems of law may apply, the forum courts would be justified in applying the principles of conflict of laws to resolve any disputes. Some of the questions that could arise before courts in today's world of globalization are questions such as: What would be the applicable law to a transaction of purchase of shares between two corporate entities both of which are incorporated under the laws of one country when the impact of such transaction leads to a change in the control of other corporate entities located in other parts of the world? Should such transaction be subjected to multiple tests under different legal regimes in order to gain legitimacy? I think that when taking legal actions against a foreign business partner based in another country, there are practical considerations to be considered such as the importance is to consider various clauses of the contractual legal agreements that were drawn when starting any type of business. This agreement must be legally enforceable between the two partners and besides legal aspects of international business, someone also needs to consider the cultural and ethical differences inherited in such business transactions that may affect business in the long-run status. The factors that could work against Cadmex’s decision to grant sublicensing agreements are that its lawsuits could start to accumulate because of the negligence of a third party. Also, if there is a worker does the wrong thing, damage property, or does something outside of the agreement, this would make the main company liable for this negligence. When a customs and laws conflict the jurisdiction in which a business operates, or the legal action, is taking place if the business has locations in more than one country, or whatever business is being conducted...