International Legal and Ethical Issues
What are the issues involved in resolving legal disputes in international transactions? The issues are what choice of law clause you are going to use in the contract in case of dispute or breach of contract. The other issue is what forum selection clause is going to be used if there’s ever an issue or dispute. Both are very important issues to address before getting into contract with a foreign business. You need to take in consideration in what part of the world you want legal action to take place if your business partner based in another country
What are some practical considerations of taking legal action against a foreign business? The considerations would have to be how far do you want to take your legal action and how is it going to affect future business with the company. A consideration would be if arbitration is an option. It would be so much better and faster if the business would solve their issues this way.
What factors could work against CadMex’s decision to grant sublicensing agreements? If they grant sublicensing agreements to other companies, they will be losing money. But on the other hand they can put in a clause where they will collect a certain percentage of royalties for a long period of time and that can help balance the loss they are taking by sublicensing. But by doing so, it also makes them look more ethical with higher moral values.
When the local customs and laws conflict with the customs and laws of an organization operating abroad, which should prevail? The customs where the business is being conducted, it makes more sense to do it this way due to the fact that the country where the business is being done has employees and the employees go by the laws of their own country. They are more familiar with them.
How would you compare the issues in this simulation to the domestic legal issues discussed in your Week One readings? How should...
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