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LAW421 Week 2 Addressing International Legal and Ethical Issues Simulation Summary

This document summarizes legal and ethical issues that can arise when conducting business in foreign countries. It notes that organizations must be aware of both international laws as well as local laws governing actions in foreign nations. It also stresses the importance of considering ethics and acting responsibly. When dealing with legal disputes abroad, common international laws may not apply if the foreign country does not recognize them, making agreements more difficult. The document advises that resolving issues through negotiation rather than litigation is preferable when possible to maintain business relationships. Foreign customs and laws take precedence over domestic laws of the home country when operating internationally.

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152 views

LAW421 Week 2 Addressing International Legal and Ethical Issues Simulation Summary

This document summarizes legal and ethical issues that can arise when conducting business in foreign countries. It notes that organizations must be aware of both international laws as well as local laws governing actions in foreign nations. It also stresses the importance of considering ethics and acting responsibly. When dealing with legal disputes abroad, common international laws may not apply if the foreign country does not recognize them, making agreements more difficult. The document advises that resolving issues through negotiation rather than litigation is preferable when possible to maintain business relationships. Foreign customs and laws take precedence over domestic laws of the home country when operating internationally.

Uploaded by

WellThisIsDifferent
Copyright
© Attribution Non-Commercial (BY-NC)
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOC, PDF, TXT or read online on Scribd
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Running head: Legal and Ethical Issues Simulation Summary

Legal and Ethical Issues Simulation Summary Student Name Contemporary Business Law/LAW !1 Date Instructor Name

Legal and Ethical Issues Simulation Summary Legal and Ethical Issues Simulation Summary

When dealing with legal disputes in other countries an organi"ation must #e $ully aware o$ the international laws as well as any local laws that go%ern these actions& 'ne must #e cogni"ant o$ any treaties with the $oreign nation( customary laws( or )udicial decisions in re$erence to comity that may a$$ect the dispute *+el%in( !,11-& Blend these international laws with the re.uirement to act ethically and responsi#ly $or humanity and any international legal disputes ha%e the potential to #e costly& 'ne o$ the more practical concerns when dealing with $oreign #usiness partner legal actions is i$ common international laws as descri#ed #y the /nited 0ations */&0&- is #inding in the $oreign country& I$ the $oreign country stands alone $rom the /&0& there may #e di$$iculty in coming to a proper legal agreement& Another important practical consideration is what type o$ legal action is necessary& Legal proceedings are costly and time consuming& I$ it is possi#le to come to a resolution through mediation and negotiations this is the #est solution& 1he possi#ility o$ $urther #usiness dealings in the $oreign country is important and any possi#ility o$ sa%ing this #usiness relationship may outweigh a $inancially $easi#le resolution& When granting su#licensing agreements on a patent it places a company in a role o$ responsi#ility $or other #usinesses actions& By doing this( the company agrees to operate a manu$acturing #usiness within the con$ines o$ the $oreign country2s employment laws( which may operate with di$$erent rules than that o$ the /nited States& 1his poses pro#lems in managing employees and production& 1he su#licensing also creates a loss o$ re%enue #ecause o$ $oregoing the patent& 1he customs and laws in which an organi"ation is per$orming #usiness pre%ail o%er the organi"ations homeland laws& International law and local laws go%ern #usiness operations in $oreign nations and are en$orcea#le& '$ course i$ the laws are ethically inappropriate one must

Legal and Ethical Issues Simulation Summary consider this prior to going into #usiness in this country&

Laws that go%ern #eha%ior in the /nited States #ind /nited States domestic legal disputes& When per$orming #usiness in the /nited States one can( with an amount o$ certainty( hold con$idence that /nited States Constitutional laws will pre%ail& 4owe%er( when dealing with $oreign countries on $oreign soil legal disputes are su#)ect to the $oreign domestic laws& 5oreign and international laws pre%ail in these relationships so one must conduct #usiness with this in mind&

Legal and Ethical Issues Simulation Summary Re$erences +el%in( S& 6& *!,11-& The legal environment of business: A managerial approach: Theory to practice. 0ew 7or8( 07: +c9raw:4ill/Irwin&

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