Running head: Legal and Ethical Issues Simulation Summary

Legal and Ethical Issues Simulation Summary Student Name Contemporary Business Law/LAW !1 Date Instructor Name

Legal and Ethical Issues Simulation Summary Legal and Ethical Issues Simulation Summary

When dealing with legal disputes in other countries an organi"ation must #e $ully aware o$ the international laws as well as any local laws that go%ern these actions& 'ne must #e cogni"ant o$ any treaties with the $oreign nation( customary laws( or )udicial decisions in re$erence to comity that may a$$ect the dispute *+el%in( !,11-& Blend these international laws with the re.uirement to act ethically and responsi#ly $or humanity and any international legal disputes ha%e the potential to #e costly& 'ne o$ the more practical concerns when dealing with $oreign #usiness partner legal actions is i$ common international laws as descri#ed #y the /nited 0ations */&0&- is #inding in the $oreign country& I$ the $oreign country stands alone $rom the /&0& there may #e di$$iculty in coming to a proper legal agreement& Another important practical consideration is what type o$ legal action is necessary& Legal proceedings are costly and time consuming& I$ it is possi#le to come to a resolution through mediation and negotiations this is the #est solution& 1he possi#ility o$ $urther #usiness dealings in the $oreign country is important and any possi#ility o$ sa%ing this #usiness relationship may outweigh a $inancially $easi#le resolution& When granting su#licensing agreements on a patent it places a company in a role o$ responsi#ility $or other #usinesses actions& By doing this( the company agrees to operate a manu$acturing #usiness within the con$ines o$ the $oreign country2s employment laws( which may operate with di$$erent rules than that o$ the /nited States& 1his poses pro#lems in managing employees and production& 1he su#licensing also creates a loss o$ re%enue #ecause o$ $oregoing the patent& 1he customs and laws in which an organi"ation is per$orming #usiness pre%ail o%er the organi"ations homeland laws& International law and local laws go%ern #usiness operations in $oreign nations and are en$orcea#le& '$ course i$ the laws are ethically inappropriate one must

Legal and Ethical Issues Simulation Summary consider this prior to going into #usiness in this country&

Laws that go%ern #eha%ior in the /nited States #ind /nited States domestic legal disputes& When per$orming #usiness in the /nited States one can( with an amount o$ certainty( hold con$idence that /nited States Constitutional laws will pre%ail& 4owe%er( when dealing with $oreign countries on $oreign soil legal disputes are su#)ect to the $oreign domestic laws& 5oreign and international laws pre%ail in these relationships so one must conduct #usiness with this in mind&

Legal and Ethical Issues Simulation Summary Re$erences +el%in( S& 6& *!,11-& The legal environment of business: A managerial approach: Theory to practice. 0ew 7or8( 07: +c9raw:4ill/Irwin&