Therefore, if when a consumer enters a store and sees similarly priced products, one imported and one made domestically, they can choose a US made product without feeling as if they are overpaying for the same product. Many American consumers would like to purchase American products but if American products are considerably priced higher than imports, it will make it a difficult decision. Since the protective tariffs would even the playing field for the consumer, it would be a beneficial implementation. 2. Point #2: Tariffs protect American jobs and wages.
This action is a good start, so that both parties define and protect specific laws. If a legal dispute does happen both parties may wish to be aware of practical considerations before taking any legal actions. Considerations such as; the partnership, the original contract, the laws of the government that one is doing business with, future investments, and relations with the country in which the business is located. One factor that may not work in CadMex’s favor when granting the sublicensing agreement is that there is always a chance that Gentura may violate the agreement and divulge CasMex’s proprietary information to competing companies. When conducting business with foreign countries one should always be aware of the laws and customs in place of the country one wishes to conduct business with or make arrangements to do business (Delaney, 2004).
If a situation should occur then the company could be covered by t the Conflict of laws which has three branches , Jurisdiction whether the forum court has the power to resolve the dispute at hand, Choice of law the law which is being applied to resolve the dispute, and Foreign judgments the ability to recognize and enforce a judgment from an external forum within the jurisdiction of the adjudicating forum. When a company enters into a contract with another company overseas the contract should be clear of which area their conflicts will be solved. Most often it is more cost effective to leave these conflicts to arbitration, more so if the company is not a part of any international trade groups. Foreign judgments can also be a great tool if they are on a neutral ground. Either foreign judgments or arbitration must have a binding clause in the contract to
11). The Competition Requirement, as stated in the Federal Acquisition Regulation (FAR) Part 6, “Prescribes policies and procedures to promote full and open competition in the acquisition process. And to provide for full and open competition, after exclusion of sources, and advocates for competition” (FAR, 2014, p. 6.1-1). This regulation offers adequate protection of the collective buying power of the American people because it prevents favoritism and gives businesses the opportunity to compete for federal contracts. It also allows the Government to select products and services at the lowest
The company has been affected in a good way because this act allows the company to have the right to sell their products and services. Which allows the business to keep running and trading. * Consumer protection from unfair trading. This law is in place to prevent traders are honest and fair when offering their products and services for sale. Examples of how business have been affected by consumer protection from unfair trading- 1.
Task 3 Antitrust laws were set up by the federal government as a way to try to keep business in fair competition with each other. They were preventing businesses from forming monopolies, oligopoly, and illegal mergers. The laws were attempting to prevent businesses from trying to fix prices, which in turn would help the production of quality goods and better services. Healthy and fair competition between businesses would make sure that consumer demands are met not only by the manufactures but also with the sale of the goods being at reasonable prices. It began with the Sherman Antitrust Act of 1890.
455-457) They also act like a monopoly because they can control their prices. The regulations set prices for natural monopolies that will allow the companies to earn an average profit and still allow expansion of the monopoly output. (McConnell, 2008, pp. 424-441) The regulations can also use licensing to impede a competitor from going into the same business, or can demand that the business also be regulated. Oligopolies can be block access into industries by regulations.
If we don’t follow the laws, regulations, and conventions then we take responsibility for the action and accept the consequences. The fifth CRT principle speaks of support responsibility to globalization. The business should support improvement of domestic rules and regulations where they unfairly get in the way of global trade (Caux Round Table, 2003). This could be compared to White’s second guideline regarding honesty. Even though we will often be unsuccessful, our objective must be total honesty (White, 1978).
“The most important provision of this act however is the prevention of anticompetitive mergers. This occurs when a company buys a competing firm. While most mergers allow the companies to create better quality goods at less expensive prices, some mergers limit competition and make price fixing easier. This part of the act was designed to prevent mergers from creating monopolies” (Ellsworth, 4). This section of the Clayton act wanted to promote free trade and keep smaller businesses from getting too greedy.
If we begin to barter it away for bits of perceived tranquility or safety, then we erode the standard by which to measure the limits and prerogatives of government. Liberty and tranquility will become interchangeable and indistinguishable. Disagree: Liberty is not absolute in a democracy; rather, it must be tempered by decision making for the public good. The people as a whole, or their representatives, have the right to decide in favor of laws they feel protect them from danger or harm, provided these laws merely limit—but do not eliminate—individual