Business International Legal and Ethical Issues Essay

International Legal and Ethical Issues When businesses deal globally to expand their markets they may face dilemmas which must be dealt with to avoid conflict. The types of issues many companies encounter deal with legal, ethical and cultural encounters. From our example we see the legal issues in settling disputes for international transactions can become very complex. Ethical issues concerning the workers, the culture, and the environment are all contributing factors international companies must be ready to address. CadMex Pharma and Gentura must establish a business agreement that protects both of the company’s interest from issues concerning the social, legal, and ethical norms of the host business. What are the issues involved†¦show more content†¦These laws will prevail over the individual country of origin laws when both countries agree to the CISG. Courts from either country would have a hard time enforcing laws against international business in another country. Matters concerning dispute resolution must be agreed upon as companies agree to do business together. What are some practical considerations of taking legal action against a foreign business partner based in another country? Companies seeking to take legal action against a foreign business partner must consider what type of agreement exist between the international businesses. Which laws and court system of each company will prevail? The agreements between international businesses should consider if International arbitration will be used to settle disputes and if the arbitration is binding or nonbinding. International organizations who follow a system of Arbitration which has a high level of acceptance may incur less expense and still maintain a working relationship. Arbitration awards are enforceable in many countries as long as arbitration is international according to the treaty of 1958 Convention on the Recognition and Enforcement of Foreign Arbitral Awards (Melvin, 2011. p. 637). If the Companies seek legal action through the court system, each organization will need to have a broad understanding of the legal systems within each country as they seek settlement ofShow MoreRelatedInternational Legal and Ethical Issues in Business885 Words   |  4 PagesInternational Legal and Ethical Issues in Business Unit 5 Individual Project ABSTRACT In this paper I will discuss environmental regulations and labor laws in place in Thailand and Singapore. This paper will show that while Singapore seems to have stricter environmental regulations in place in it’s country, the labor laws in Thailand seems to protect its citizens better with better work hour regulations and wage requirements. 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