Beruflich Dokumente
Kultur Dokumente
Legal Forces
Recognize the importance of foreign law Explain contract devices and institutions that
assist in interpreting international contracts intellectual properties
10-3
10-4
10-6
Extraterritoriality
A countrys attempt to apply its laws to foreigners or nonresidents and to acts and activities that take place outside its borders Not done through force, but by traditional legal means
10-7
Performance of Contracts
10-9
Performance of Contracts
Private Solution: Arbitration Instead of going to court in any country, companies may opt for arbitration A process, agreed to by parties to a dispute in lieu of going to court, by which a neutral person or body makes a binding decision Generally faster More informal Confidential Less expensive
10-10
10-11
Intellectual Property: Patents, Trademarks, Trade Names, Copyrights, and Trade Secrets
Intellectual Property
Patents (Protection)
International Convention for the
Protection of Industrial Property
10-13
Intellectual Property
Trademarks
10-14
Intellectual Property
Trade Names
Copyrights
Protection provided under the Berne Convention of 1886 adhered to by 77 countries Universal Copyright Convention of 1954 adopted by 92 countries
10-15
Common Law
Jurisdiction has
more power to expand rules to fit particular cases
Civil Law
Jurisdiction is
bound by the words in the code Much more predictable
10-16
United States
Laws and regulations are constantly being amended or revised by legislatures and the agencies
10-17
Legal System Differences between England and the U.S. England has a split legal profession with barristers and solicitors England has no jury for civil court actions Contingency fees less common in England Award of costs to the winner in civil litigation standard in England Pretrial discovery differs
10-18
Standardizing Laws
Many attempts have been made to standardize laws among various countries International business flows much better with a uniform set of rules Attempts include Tax conventions and treaties Antitrust cooperation International Center for Settlement of Investment Disputes UN Convention on International Sale of Goods International Organization for Standardization (ISO) International Electrotechnical Commission (IEC)
10-19
Taxation
10-20
Taxation
10-23
Taxation
10-25
Taxation
Antitrust Laws
Antitrust laws
Laws to prevent price fixing, market sharing, and business monopolies
Competition policy
The European Union equivalent of antitrust laws
The U.S. and the EU have attempted to enforce their antitrust laws extraterritorially Japans Fair Trade Commission
the toothless tiger Japanese companies are incorporating antitrust thinking into strategy
10-27
Purposes of
tariffs
Other trade
obstacles include
Torts
Product Liability
Standard that holds a company and its officers and directors liable and possibly subject to fines or imprisonment when their product causes death, injury, or damage
Standard that holds the designer or manufacturer liable for damages caused by a product without the need for a plaintiff to prove negligence in the products design or manufacture
Strict Liability
10-29
10-31
Accounting Law
Sarbanes-Oxley Act (SOX)
Brings major changes to the regulation of corporate governance and financial practice New reporting requirements Officer and director responsibilities Auditor independence Applies to any company, domestic or foreign, that has securities registered or is required to file reports under the Securities Exchange Act of 1934
10-32