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International Legal and Ethical Issues Essay

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Below is an essay on "International Legal and Ethical Issues" from Anti Essays, your source for research papers, essays, and term paper examples.

International Legal and Ethical Isssues
In this scenario Gentura, a Candore based company, is a biotechnology company that recently created a anti-diabetic agent however Gentura does not know how to market the new product. Gentura is considering entering into agreement with CadMex, a United States based company, to manufacture and market this new agent. In question are the type of contract to use and the forum which to use should a dispute arise. The chosen contract was the Candorean Regulations for Technology Import Contracts and the forum chosen for any possible dispute is international arbitration (binding).
Issues involved in resolving legal disputes could be customs, language, environmental, competition, misunderstandings, and even communications just to name a few. Any of these issues can create a large problem between international companies. An example of a legal dispute in the scenario is CadMex could make much more money than expected from the marketing of Gentura’s newly created agent and Gentura stops the production of the agent citing that the extra proceeds should be returned to them, not CadMex and breaking the contract.
Practical considerations of taking legal actions against a foreign business partner are bringing in the attorneys used to create the initial contract. If an agreement cannot be made, another consideration is to proceed to international arbitration, which was the agreed upon method of dispute resolution between the two companies. Both companies need to resolve the dispute in the quickest and easiest way in order to still make money and continue production while saving the relationship, if possible.
A factor which could work against CadMex’s decision of sublicensing agreements is the red tape CadMex must work through as a prerequisite to doing business in Candore. Other countries have their own rules which any business must abide by. Should the incoming country not provide the right paperwork or not answer the right questions, a...

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"International Legal and Ethical Issues". Anti Essays. 11 Dec. 2018

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International Legal and Ethical Issues. Anti Essays. Retrieved December 11, 2018, from the World Wide Web: http://snehaedu.com/free-essays/International-Legal-And-Ethical-Issues-357226.html