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The granting of sublicensing could have a negative affect and different factors need to be evaluated before proceeding. For instance, sublicensing could erode Cadmex's profit share, and pose a risk, if the licensee is producing and selling patented pharmaceuticals on the open market. According to University of Phoenix Addressing International Legal and Ethical Issues (2014), under TRIPS,Article 31(f) allows for compulsory licensing of pharmaceuticals in the event of a health emergency; given the political climate in Candor, it could lead to such misuse by way of such a government declaration. If CadMex's agreement is not properly executed, it could allow the sub licensee to extend that license to others, leading to a licensee…
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“When a U.S. company enters into an agreement located in another country, it must ensure the contract is legally enforceable” (Melvin, 2011). The same would apply to an international business, and they should be fully aware of any changes made to international laws and legislations.…
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Contractual legal agreements should be drawn upon starting a business. Between the foreign business partners based in another country there must be an agreement and legally enforceable. Despite the legal aspects of international business there too is a need to consider cultural and ethical behaviors eventually developed that my negative affect business in the long-run.…
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Shannon is a juvenile probation officer with the Department of Juvenile Justice. Recently, she covered her coworker, Janet’s client load, while Janet was on vacation.…
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The fact is that domestic law has nothing to do with international law and companies should be ready to face any issue that could appear. The second week material offered more information on how to handle international issues. The forum selection is the most important thing to do when trying to avoid future conflicts of law. Litigation and arbitration are the best options for organizations involved in international disputes. Legal advice or counseling is a useful resource that could help avoid confusions and setbacks in the future; it is always better to be…
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Country’s differences in relation to political and legal systems can have dramatic impact on the benefits, costs and risks associated with expanding a business internationally (Hill, 2008, p.219). In order to make a well analysed decision on feasibility of expansion of Octahedron into either Mexico or Colombia, the political-legal environments of each country…
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In summary, whether a business is a domestic or international based the rules of the game have to be clearly defined. By not doing so, the success of any venture is doomed to fail and with good reason. Extensive knowledge of the field chosen to do business is fundamental and when disputes arise the parties involved have to know that their interests are being represented in an equitable manner. Good reputation and good business practices are good traits for businesses to ensure compliance with laws which can be local or international. It is imperative…
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In business there is a lot of debate on what is ethical and unethical. The United States has passed many laws in order to enforce business ethics in corporations. However, there are still many outside countries that do not have a strict set of laws, and practice unethical business techniques. One major unethical practice that is done in many countries is the use of child labor in sweatshops. In sweatshops workers are subject to extreme exploitation. They are paid at a very low wage rate, do not receive benefits, have extremely poor working conditions, and may even suffer from some physical abuse. These types of workers could almost be compared to slaves, in the sense that they have no opportunity to improve their lives.…
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In simulation game, two dilemmas were presented. The first case is happened to a 16-year-old mother, RB. She is in her tenth hour of labor. Her parents are at bedside with her. Because of religious belief, they have chosen to limit the amount of medication and other medical assistance. Due to the length of her labor, her unborn child’s situation is getting worse. RB has not received any medication so far. Because of her fear and distress, fetal distress has been increasing gradually. RB’s brother stated that their parents want the staff hold the painkiller and treatment because they punish her for getting pregnant before she was married. RB is still a minor, her parents are informed of her health status, but we are not sure whether or not they understand how dangerous her situation could get. In the second case, one of the ICU patient, AT, was brought to the hospital by his domestic…
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As the simulation continued, the scenario came up that dealt with the granting of sublicensing agreements by CadMex when their product needed in a greater quantity than what they had already produced. One of the first problems that can arise for CadMex is a potential shortage of sub-paragraphs within the sub-licensing agreement that would be designed to enforce the agreement. Another problem would consist of having too many sublicensing agreements out and not having a proper system in place for monitoring the activities accurately for each license owner. The ultimate problem…
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If a United States company go into contract with another country, the United States must verify that the contract is legal and enforceable. International companies should do the same if they are doing business in the United States. Laws are different in each country. A company must make sure they have an understanding of the laws within the country which business is conducted in. The laws from one country to another can make or break you.…
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The licensing agreement causes a few disadvantages for a company who’s entering a new foreign market:…
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An important aspect of any business is to be able to analyze and evaluate the environment, both internally and externally, in which the business is to operate (Plunkett, Attner, & Allen, 2008). The cost of doing business overseas is a concept that is related to evaluating the external environment, where a manager or business owner must consider such elements as “the strengths and weaknesses of suppliers and partners, the availability of additional labor and technology, and the needs of external customers” (Plunkett, Attner, & Allen, 2008). Applying this general notion to international business, particularly to the prospects of working in a different country, the cost of doing business refers to the existing situation or situations in the potential country which will have an effect on the company. The analysis is created by stating limitations and available resources in order to develop an idea of the costs and benefits (Plunkett, Attner, & Allen, 2008).…
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As a global organization, it is well established that a considerable issue, which may occur after processing international business…
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In today’s growth of technology companies can be based in one country and operate business on the other side of the world. Becoming a global organization has helped economies that would otherwise struggle. Instead of only being able to reach thousands of consumers an organization is now able to reach millions. An organization usually seeks to go global to increase revenue. Whether it is a small organization looking to build profits or a large publically traded organization looking to build shareholders wealth the organization is looking to grow financially. With the aspiration of increased revenue there are certain drivers that bring an organization to a certain location in a specific time. Going global for an organization can prove to be risky, especially if the organization is not proficient in the countries financial processes, cultural differences, and ethical processes.…
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