Addressing International Legal and Ethical Issues Simulation Summary

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Addressing International Legal and Ethical Issues Simulation Summary Teresa Smith LAW421 December 23, 2013 • What are the issues involved in resolving legal disputes in international transactions? When trying to resolve issues in matters of international business you must have knowledge of the law and culture of the country that you are conducting business. A choice of law clause and a forum selection clause are necessary and help when putting a contract together to detail exactly how these legal disputes will be handled. Contracts that are vague or are put together by people with no knowledge of the country or culture in which they are doing business have little hope of being enforceable. • What are some practical considerations of taking legal action against a foreign business partner based in another country? The practical considerations that need to be taken into account before legal actions can be taken against a foreign business based in another country are International Laws, foreign country laws, domestic laws, contracts or agreements that have been previously agreed to by all parties. Considering these options can save the business money and preserve the business relationship if all parties are aware of the contracts that were entered into and if the contract is enforceable. We would also have to consider where legal action is to be taken; as it could cost more money to take action in a particular country and this could make taking legal action impractical. • What factors could work against CadMex's decision to grant sublicensing agreements? CadMex could lose profit by sublicensing and they could also lose control of the quality of the product because they are letting someone else make the product for them. Should the quality of the product come into question the burden falls onto CadMex who holds the patent on the product. •
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