Addressing International Legal and Ethical Issues Simulation Summary

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Addressing International Legal and Ethical Issues Simulation Summary LAW/421 August 6, 2013 Addressing International Legal and Ethical Issues Simulation Summary International trade is important and beneficial to business. However, international trade guides a safeguard of interests, specific business contract, defined law, forum of dispute settlement, and understanding of contract clauses. “A working knowledge of international law helps business owners and managers with global interests reduce risk and increase profits” (Melvin, 2011, P. 631). This enlightenment will address the international legal and ethical issues involved in international business transactions and compare such to domestic business operations. Resolving legal…show more content…
Legal issues are often evident however; the ethical and cultural issues create no clear-cut answer to solving legal disputes, as shown with compulsory licensing and sublicensing agreements. Sublicensing agreements In the Apollo Group stimulation, “Addressing international legal and ethical issues” (2004), CadMex and Gentura have a pharmaceutical drug partnership located in Candore. The partnership specifies contracts for International Sale of Goods as a choice of law and International Arbitration to solve disputes. Later an outbreak of a viral infection creates a health emergency in Candore, and the Candorean government places threat to suspend the ViroBlax drug patent. If CadMex refuses to provide sublicensing of ViroBlax, the Candorean government will suspend CadMex’s patent on ViroBlax and provide compulsory licenses for domestic manufacture of generic ViroBlax. According to “World Trade Organization” (2012), “compulsory licensing is when a government allows someone else to produce the patented product or process without the consent of the patent owner. It is one of the flexibilities on patent protection included in the WTO’s agreement on intellectual property” (What is compulsory licensing?). Sublicensing will take time and money to ensure the other pharmaceutical companies meet CadMex standards, and production requirements. However allowing sublicensing will preclude the need to suspend the patent and CadMex will still receive royalty payments due as

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