Addressing International Legal and Ethical Issues Simulation Summary

It is clear that companies need to know what is and what is not legal in order to trade successfully. If an organization trades globally this becomes a very tricky area to get right as each country has its own set of rules and regulations.

Business is continually growing on a global level leading to international business partnerships, agreements, and trades. During these types of business relationships disputes are common (University of Phoenix, n.d.). If a dispute occurs one party may chooses to take legal action against the other party. Making the decision to take legal action businesses must make considerations prior to proceeding. Making the right decisions can build a strong relationship between parties. Considerations to take include contracts, local law, and local customs and culture. Steps may be taken to minimize risks in international business agreements as well.

This article relates to our class because it shows how the actions of one organization or country affects many other in international business.

Because the Uniform Commercial Code (UCC) generally regulates commerce or trade on a national basis, one may not realize that it also has an impact on international commerce. However, this assumption would ignore the critical role that American laws and policies play in the arena of international trade. These roles are both formal and informal. In other words, American law has direct and indirect effects on international commerce. In order to understand the impact of the UCC on international commerce, it is critical to understand how American law interacts with international law.

In the age of information technology, the strict and formal procedures that were once crucial to the foundation of trade are slowly vanishing as the capability to effortlessly communicate worldwide has turned the world into a global community. However, in this day and age, there are still some fundamental

After reading the first half of the text, I learned about the topics of globalization, economic development, international financial markets, and more. International business is relevant in almost all news articles today. Although I have learned a large measure of information from each chapter, I was mostly interested in chapter five’s topic of international trade which discussed how countries sell, purchase, or exchange goods across national boarders.

International projects present multinational corporations with many complexities in organizing a profitable transaction structure.Foreign exchange risk is an underlying problem. Credit risk presents another challenge. Payment terms and the certainty of realizing them can be difficult points. Negotiations with foreign corporations and governments, and with agents and intermediaries, present additional challenges. An example of the demanding environment for global financial activities is presented in the case of "Avicular Controls and Pakistan Airlines". It is found in Cases in International Finance on page 40.

However, in business, the ethical issues are often neglected to create economic gains. After all, international business has opened huge markets for the United States products and has provided customers with new and cheaper goods. Bulkeley (2004) argues that IBM engrosses about $15 billion a year from outsourcing, which is 17% of the total revenue. With the advancement in shipping and telecommunications, it is easier than ever before to sell products and services across the world. If

• Increased concerns about piracy and digital rights management issues make the offering of entertainment content through new media legally complicated and costly.

Mercer, a subsidiary of Marsh & McLennan companies’ is global consulting leader and part of a culture that has colleagues in more than 100 countries. Mercer, recognize the difficulty organizations may encounter when entering new markets, therefore conducts business in accordance with all applicable trade restrictions, export controls or anti-boycott laws. International trade compliance and applied science transfer are governed by laws and regulating of multiple jurisdictions forming a highly complicated and ever-evolving global compliance regime.1 This paper is written to explore business recitations by Mercer (MMC) when conducting business internationally.

The level of internationalisation around the globe has grown throughout the years, with advanced technologies the ease and ability to work with foreign countries has also grown. However, firms do not simply interact with each other with no outside party involvement; the government can be seen to play a large role in conducting international business. Governments continuously have the responsibility to act in the manner that they believe is best for their nation; this includes decisions regarding protectionism, which may serve to aid domestic industries but simultaneously hinder international business. It can be seen that governments do not always act in their nation’s best interest and are corrupt which can serve to increase the risks and costs of entering an international business environment. While these are examples in which the government makes international business difficult it can also be seen that the presence of a government is instrumental in creating international business effectiveness, whether this be through their legal system or from trade agreements. This makes the role the government plays paradoxical; as their involvement generally increases the risks and costs of firms seeking to internationalise, whilst simultaneously playing a significant role in creating international business effectiveness.

Cipla should look to protect their patents on particular medications and explains why rules governing intellectual property rights in industrialized nations should not apply to poorer countries.

Japan has a relatively stable political and legal environment which reduces the risks associated with entering the foreign market. The political system is a democratic system, with a Westminster form of government similar to Australia, which is favourable for western cultures when conducting international business. The legal environment on the other hand, is built on the foundations of the European Civil Law system with an English-American influence. Therefore Australian businesses must understand the differences when conducting business to ensure the

The advent of globalisation in the last two decades had an immense impact to the political and legal environments which are essential aspects in international marketing. As there is no existing single political and legal environment because of its complexity on a variety of levels, the political and legal environment will be referred to as one concept in this paper.

International trade has helped business in capturing market potential and growing internationally. Today no country operates its trade independently and this reason itself has reduced importance of geographical boundaries and made trade associations like WTO, IMF etc. more significant. The duration of my Bachelors in Commerce has cultivated deep interest in me towards understanding dynamics of International trade and using it as a tool to add value to business.