Running head: Addressing International Legal and Ethical Issues Simulation Summary
Addressing International Legal and Ethical Issues Simulation Summary
Legal and Ethical Issues Simulation Summary
A wide range of legal and ethical issues can occur in the international business world. The goal of this analysis is to understand many of the issues involved in resolving legal disputes in international transactions. Some of the issues discussed include selecting local counsel, fully understanding the foreign laws, due diligence, and choosing the right law and dispute resolutions. This paper also highlights some of the factors that could possibly work against CadMex when it comes to its decision on sublicensing agreements. Some of the factors discussed in this paper include time and cost increases in addition to price differences between generic brands in Canada and CadMex’s brand. The paper will also discuss some of the ways local customs and laws can conflict and how to deal with the situation. Finally, this paper will also cover how companies should resolve domestic and international disputes differently than the companies discussed in the week one readings.
Understanding how to address international legal and ethical issues is essential in creating a strong business relationship with other businesses abroad. There are many issues involved in resolving international legal disputes including selecting local counsel, full understanding of the local laws, due diligence, and the choices surrounding law and dispute resolutions. After completing the simulation, it became apparent what factors could work against the decision for CadMex to grant sublicensing agreements. It was also interesting to find out what happens with the laws and customs of the foreign country conflict with the local laws and customs. As the simulation continued things began to make more sense and pieces started fitting together.
In each jurisdiction where...