Domestic Contract on International Laws and Customs Essay Example for Free

Domestic Contract on International Laws and Customs EssayAddressing International court-ordered and Ethical Issues Simulation Summary In January 2007, CadMex developed a technique for the quick manufacture of most medical agent. Gentura also developed a technique called ProPrez, which is an anti-diabetic agent. Gentura is located in Candore, which is a dictatorship. CadMex decided to go into business with Gentura that would give them global marketing right to ProPez. The decoct needs to have measures in institutionalize to protect CadMex interest concerning property rights and potential dispute. There are issues that are involved in result legal actions against a foreign business. One issue that is involved is the legal system. When dealing with a case, they may want to finish the case quickly rather than handling it with quality.Doing so may lead to render not being analyzed. Another issue may be the different laws between the two countries. non having any written docum ents may also be another issue if contracts are done everyplace the phone. Some practical considerations of taking legal action against a foreign business based in another country are whether they have patent law and trademark laws. Factors that could work against CadMex decision to shell out sublicensing agreements would be the lack of patent rights and the fact that they did not go through the proper court fulfill in Candore. When local tradition and laws conflict with customs and laws of an organization, operating abroad the local law and customs should prevail because that is where the contract was based. The host country should have manufactures rights.For example if the United States and China goes into a contract in regards to Chinese traditional attire and there is a dispute, the Chinese should win because it is a break-dance of their tradition and the United States assumed the risk. The issues in the simulation compares to the issues discussed in week one in term of l aw, ethics, and different ways to dispute, as well as litigations. Companies should resolve domestic and international issues differently by honoring domestic and international laws and customs. Before entering into contracts both parties must agree to all the basis and ensure that the countrys legal system support those terms. Domestic contracts should be written and be on an individual basis. International contracts need to be translated if necessary and should include patent laws where possible.ReferencesContemporary ancestry Law 1. (2011). Retrieved from https//ecampus.phoenix.edu//aapd/vendors/tata/UBAMSims/business_law1/intl_legal_etical/business_law1_intl_legal_ethical_frame.html Melvin, S. P. (2011). The legal environment of business A managerial approach Theory to practice. New York, NY McGraw-Hill/Irwin.