Addressing International Legal and Ethical Issues Simulation Summary LAW/421
November 20, 2012
Professor Albert Filidoro, Jr
International Legal and Ethical Issues Simulation Summary
International transactions require certain legal criteria for proper processing. When one country wants to venture into another country to globally market a product, they must consider the legal ramifications and other possibilities that could happen once they 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 loss that would be beyond their control to a degree. In order to have some profit or gain at all, the company would most likely have to agree to a percentage of loss. Some practical considerations of taking legal action against a foreign country are the uses of arbitration and mediation, as well as using the choice-of-law clause, which helps decide which law will serve as a better resolution in case an issue arose between the parties.
If CadMex decided to grant Gentura sublicensing agreements, the factors that could work against them is the fact that Gentura could produce their own generic version of the partnering product and they can also set their own prices at a lower cost. Gentura can take profits away from CadMex by creating a cheaper version of their own manufactured product. In the scenario presented in the simulation, Gentura had to make a choice of whether to go against CadMex and make a generic, cheaper version of the pharmaceutical to cover an outbreak or epidemic if it were to occur in order to save the...
References: Addressing International Legal and Ethical Issues Simulation
Please join StudyMode to read the full document