Legal Environment In Australia Essay

November 23, 2010
International Business Law
Word Count: 4500

Table of Contents

Introduction…………………………………………………………………………………………………………………………………..p. 3

I- Political Risks in Australia………………………………………………………………………………………………………p. 4

II- Financial Risks in Australia…………………………………………………………………………………………………..p. 5

III- Cultural Risks in Australia……………………………………………………………………………………………………p. 6

IV- Environmental Risks in Australia…………………………………………………………………………………….p. 7

V- Australia’s Legal System……………………………………………………………………………………………………….p. 9

1- Legal System at a Glance………………………………………………………………………………………….p. 9
2- Dispute Resolution……………………………………………………………………………………………………p. 10
3- Trade Treaties and Organizations……………………………………………………………………..p. 11
4- Protection of Intellectual Property in Australia…………………………………………p. 12
5- Labor Law……………………………………………………………………………………………………………………….p. 14
6- Foreign Investment…………………………………………………………………………………………………..p. 16
7- Taxation Law………………………………………………………………………………………………………………..p. 19

VI- Best Form of International Business to Enter in the Australian Market….p. 20

Bibliography…………………………………………………………………………………………………………………………………p. 22
Introduction
Australia is a modern and developed country of 21.5 million people located in the Pacific Ocean. This is the only country continent on the planet. In 2009, Australia’s GDP was $851.1 billion (CIA Website, 2010). The 2009 IMD World Competitiveness Yearbook classified Australia as the 7th most competitive economy in the world (Website Invest in Australia, ND).The country is governed under a parliamentary Federal government model and its official name is “Commonwealth of Australia”.
The Australian economy is fostered by a very active service sector, which represents around 70% of the national economy (Website Invest in Australia, ND), and has the characteristic to have a highly skilled multicultural workforce. In July 2010, the unemployment rate in Australia was 5.3%, according to the...