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Summary: Addressing International Legal And Ethical Issues

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Summary: Addressing International Legal And Ethical Issues
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Addressing International Legal and Ethical Issues Summary
LAW/421 University of Phoenix

Addressing International Legal and Ethical Issues Summary
Gentura a biotechnology company has decided to enter a possible partnership with CadMex a pharmaceutical company based out of Florida. Gentura is based in Candore, a small developing country that is governed by a dictatorship. Gentura beginnings were in enzyme manufacturing and evolved into a full-fledged biotechnology company, and have been focusing on biopharmaceutical products. Gentura recently developed a drug called ProPez, a breakthrough anti-diabetes agent; the company believes that ProPez has enormous market potential. The company does not have the resources for manufacturing and marketing ProPez globally, hence, the possible partnership discussions between Gentura and CadMex to establish a partnership.
Resolving Legal Disputes in International Transactions …show more content…
There are some options that could be used one could be Arbitration and the other could be alternative dispute resolution (ADR’s). These methods would be less costly compared to litigation, and would accelerate the dispute resolution. In the case of CadMex and Genture International commercial arbitration would be needed, this is an extension of ADR’s with an international element. The parties will design a written agreement that will give the arbitrator a guide to follow and what his powers will consist of. In some cases the parties can choose another country to arbitrate that has no connection to the dispute. An arbitrator can have the same powers as any court, but in some situations they can ask the assistance from the
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