The goals of this chapter are: Discuss the complexity of the legal forces that confront international business, recognize the importance of foreign law, explain contract devices and institutions that assist in interpreting international contracts,. | Legal Forces McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter ten Learning Objectives Discuss the complexity of the legal forces that confront international business Recognize the importance of foreign law Explain contract devices and institutions that assist in interpreting international contracts Recognize the need and methods to protect your intellectual properties 10- Learning Objectives Discuss enforcement of antitrust laws Explain the risk of product liability legal actions, which can result in imprisonment for employees or fines for them and the company Discuss . laws that affect international business operations 10- International Legal Forces Rule of law allows foreign businesses to know interests will be protected Public International Law Legal relations between governments Private International Law Laws governing transactions of individuals and companies that cross international borders 10- Sources of International Law The most important source is found in bilateral and multilateral treaties between nations Treaties are agreements between countries, which may be bilateral (between two countries) or multilateral (involving more than two countries); also called conventions, covenants, compacts, or protocols United Nation’s International Court of Justice creates law when it decides disputes 10- Extraterritoriality A country’s 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- International Dispute Settlement Litigation in the United States well-developed court systems that facilitate litigation One reason many people outside the . dislike litigation in the . is the process of discovery Unlike most other countries, the . has two major court systems The federal court system and the state court systems 10- Performance of . | Legal Forces McGraw-Hill/Irwin International Business, 11/e Copyright © 2008 The McGraw-Hill Companies, Inc. All rights reserved. chapter ten Learning Objectives Discuss the complexity of the legal forces that confront international business Recognize the importance of foreign law Explain contract devices and institutions that assist in interpreting international contracts Recognize the need and methods to protect your intellectual properties 10- Learning Objectives Discuss enforcement of antitrust laws Explain the risk of product liability legal actions, which can result in imprisonment for employees or fines for them and the company Discuss . laws that affect international business operations 10- International Legal Forces Rule of law allows foreign businesses to know interests will be protected Public International Law Legal relations between governments Private International Law Laws governing transactions of individuals and companies that cross international borders .
