Week Two Individual Assignment
Addressing International Legal and Ethical Issues Simulation Summary
Addressing International Legal and Ethical Issues
After reviewing the Addressing International Legal and Ethical Issues simulation, which was about CadMexPharma, a Pharmaceutical company based in Tampa, Florida and Gentura is a biotechnology company based in Candore looking to establish international partnership. I learned the most important issues involved in resolving legal disputes in international transactions would be to ensure the contract is legally enforceable according to the foreign countries laws. The choice of law clauses and a forum selection clause need to be specified in the business contract between CadMex and Gentura. This is the foundation for their business relationship. And also, other issues in resolving legal disputes in international transactions can range from legal, ethical or cultural issues although there is no clear cut answer. Some practical considerations of taking legal actions against a foreign business partner based in another country should consider the international law and legal interaction between different nations, their governments, business and organizations, to include their rights and responsibilities in these dealings ("Hg.org Global Legal Resources", 1995-2012). The factors that could work against CadMex’s decision to grant sublicensing agreements are mainly financial. It’s financial because Gentura in its financial best interest could violate their non-disclosure agreement and try to sell CadMex proprietary information to the highest bidder. Not to mention, the breach of contract which arisen from the proposed subsidy of ViroBlax in Candore. In this case, CadMex settled for compensation and did not take legal actions. Whenever local customs of law conflict with the customs and laws of an organization operating abroad, the laws that were specified in the contract should prevail because...