A discussion of the concerns that a company must address prior to entering into legally binding business contracts with international organizations.
Written in 2009; 825 words; 2 sources; APA; $ 29.95
Paper Summary:
This paper discusses the concerns raised by a University of Phoenix simulation about entering into international contractual business agreements. The simulation, "Addressing International Legal and Ethical Issues", specifically raised the issue about the importance of the rules and laws of the individual countries participating in the agreement. According to the paper, among the many issues that should be considered include the political stability of the countries involved, economic issues, employment laws, ethical and cultural diversity matters, and environmental concerns. The paper discusses the particular business alliance between pharmaceutical companies, CadMex and Gentura, and how they handled a deadly viral epidemic in Candore that needed their drug, which was the only one found to cure those who had become ill.
From the Paper:
"Prior to entering into international contractual business agreements, many considerations must be taken into account. Specifically, the importance of rules and laws of individual participating countries should be viewed as necessary to all parties involved. Failure to adhere to these guidelines could result in the failure of the business endeavor and decrease chances of future success. Thus, taking into account agreements which bind certain countries are paramount, as well as the significance of multinational governing bodies such as the WTO. Among the many issues that should be considered include the political stability of the countries involved, copyright and patent protection laws, economic issues including pricing policies and taxation, employment laws and regulations, ethical and cultural diversity matters, and environmental concerns."
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