International Legal and Ethical Issues

In: Business and Management

Submitted By NeedHelp999
Words 536
Pages 3
International Legal and Ethical Issues
University of Phoenix
Professor Miriam V. Gold
April 19, 2014

Introduction This week paper is a summary of an agreement between CadMex an American corporation joining working relations with Gentura company which operates out of the country of Candore. As I worked through the different scenario situations I discovered one wrong decision could ultimately make CadMex lose millions of dollars.
Choice-of-Law Clause Depending on the country you deal with it would be ideal to make a contract that follows under the United Nations Convention by agreeing under Contracts for the International Sale of Goods (CISG). Candore doesn’t practice this type routinely as it probably would prefer to function only under Candorean Regulations for Technology Import Contracts (CRTIC). The next step would to determine forum to use. To keep a neutral and bias decision it would be in the best interest of both parties to utilize the International Arbitration. Under this you have to choose binding or nonbinding agreement as they both have their advantages and disadvantages.
Course of Actions to Consider
The main consideration before taking legal action against foreign business is making sure to look after the best interest of the company you represent but also equally important, the relationship you wish to have in the future with that business in another country. The other factor is to consider the time it will take to get a decision. In most cases it works best to resolve the problem internally and settle out of court.
Sublicensing Agreements Financial and amount of time are factors to consider for CadMex before sublicensing agreement. Another factor is to consider is third party actions, if they do something wrong the main company would be held responsible for their negligence.
Laws Abroad Be…...

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