International Issues

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International Issues
Aimee Head
September 9, 2013
Kathryn Harris

No two countries have the same political and legal system. Each country has its own laws and regulations on business and products. When doing business in another country it is important to know the laws and abide by them. Culture plays a huge part in a business’s success when venturing into a foreign market. Being sensitive to the cultural and religious beliefs in that country is important to a business’s long term success. A business needs to be educated in the laws, customs and cultures of that country so that business will be able to comply and coincide with that country. A business needs to know how and where to resolve any legal issues that may arise while doing business in that country. Disputes need to be handled in a way that is respectful to that country and adheres to the contract in which the parties agreed.

International Issues
Issues in Legal Disputes in International Transactions
“International transactions and dispute resolution requires both an understanding of the law and a sensitivity to foreign culture, politics, formal and informal power structures and decision-making approaches” (White and Williams LLP, 2013). When entering into a contract with a foreign country, one needs to be very specific in the contract about how to resolve any issues that could come up between the two companies. Deciding and agreeing on where issues will be resolved is a key element in the contract. Going to court can be costly for both companies and the decision made by the court could take an extended amount of time. If the companies were to go to court, deciding in where the court hearing would take place is another issue. If the hearing was to be held in the foreign country, the laws might not be the same and that country might not have much experience in international disputes. If the hearing was to be held in the United States, the other company and the...
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