After reading this chapter, you will be able to answer the following questions: What is international law? How is business transacted in the international marketplace? What ethical considerations impact business in the international marketplace? What is the General Agreement on Tariffs and Trade, and what are its important provisions? What are regional trade agreements? | Chapter 6 International and Comparative Law Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 6: International and Comparative Law International Law (Definition): Laws governing the conduct of states and international organizations and their relations with one another and natural and juridical persons “International organizations” include the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization “Natural and juridical persons” include individuals and businesses International law consists of laws governing the conduct of states and international organizations, and their relations with each other and individuals and businesses. “International organizations” include the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization. Methods of International Business Involvement Export (including use of foreign sales representative and/or distributors) Franchise Agreement Joint Venture Foreign Subsidiary/Affiliate Methods of international business involvement include exporting (including the use of foreign sales representatives and/or distributors,) franchise agreements, joint ventures, and the use of foreign subsidiaries and/or affiliates. Ethical Considerations in International Business Whether to do business with “repressive” governments Whether to provide products for the poor at reasonable prices Whether to treat workers according to local customs, or consistent with international standards of humane treatment Ethical considerations in international business include whether to do business with “repressive” governments, whether to provide products for the poor at reasonable prices, and whether to treat workers according to local customs, or consistent with international standards of humane treatment. The General Agreement on Tariffs and Trade (GATT)—Definition: A | Chapter 6 International and Comparative Law Copyright © 2015 McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior written consent of McGraw-Hill Education. Chapter 6: International and Comparative Law International Law (Definition): Laws governing the conduct of states and international organizations and their relations with one another and natural and juridical persons “International organizations” include the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization “Natural and juridical persons” include individuals and businesses International law consists of laws governing the conduct of states and international organizations, and their relations with each other and individuals and businesses. “International organizations” include the United Nations, the International Monetary Fund, the World Bank, and the World Trade Organization. Methods of International Business Involvement Export .
