Question 1

Global standardization of trade-related law is progressing slowly.

Accepted Answer

A) True 
 B)False  True

Question 2

The existence of the rule of law in a foreign market suggests that:

Accepted Answer

A)  lawyers will be necessary in any substantive business transaction. 
B)  personal relationships will be less effective than in a country governed outside the rule-of-law system. 
C)  none of A, B, D, orE 
D)  legal rulings will be the basis of any dispute resolution. 
E)  foreign investors can assume that their interests will be protected. 
A)  lawyers will be necessary in any substantive business transaction. 
B)  personal relationships will be less effective than in a country governed outside the rule-of-law system. 
C)  none of A, B, D, orE 
D)  legal rulings will be the basis of any dispute resolution. 
E)  foreign investors can assume that their interests will be protected. E

Question 3

Standardization of law:

Accepted Answer

A)  would challenge international business because IB would lose protection. 
B)  would make IB work more smoothly because uniform, predictable laws would result. 
C)  has been progressing in some areas, such as taxation, but there is a long road forward. 
D)  two of the above. 
E)  all of A, B, and C. 
A)  would challenge international business because IB would lose protection. 
B)  would make IB work more smoothly because uniform, predictable laws would result. 
C)  has been progressing in some areas, such as taxation, but there is a long road forward. 
D)  two of the above. 
E)  all of A, B, and C. D

Question 4

WIPO is a:

Accepted Answer

A)  UN agency that administers intellectual property treaties and advises countries on intellectual property-related administrative issues. 
B)  WTO group opposed to patent extension and pro-generic. 
C)  part of the Club of Rome that lobbies for longer patent periods. 
D)  a research arm of the fuel cartel that has been advocating longer patent protection for biofuel processing systems. 
E)  creation of the Paris Union. 
A)  UN agency that administers intellectual property treaties and advises countries on intellectual property-related administrative issues. 
B)  WTO group opposed to patent extension and pro-generic. 
C)  part of the Club of Rome that lobbies for longer patent periods. 
D)  a research arm of the fuel cartel that has been advocating longer patent protection for biofuel processing systems. 
E)  creation of the Paris Union.

Question 5

Punitive damages in product liability cases can be awarded in:

Accepted Answer

A)  Japan. 
B)  Japan and the EU. 
C)  the UK. 
D)  the United States 
E)  all of the above. 
A)  Japan. 
B)  Japan and the EU. 
C)  the UK. 
D)  the United States 
E)  all of the above.

Question 6

Under U.S. law, price fixing is illegal per se, while in other countries, damage or harm has to be done; this is the case in the EU.

Accepted Answer

A) True 
 B)False

Question 7

The degree to which a country's legal system is based on the rule of law makes no difference; it is personal relationships that matter in foreign environments.

Accepted Answer

A) True 
 B)False

Question 8

Public international law refers to legal relations between governments and publicly held companies.

Accepted Answer

A) True 
 B)False

Question 9

Smaller nations would like patent protection:

Accepted Answer

A)  extended, to allow them to build their competitive advantage. 
B)  extended, so that they can recoup development costs. 
C)  reduced, so that they can enter the game earlier, possibly with generics. 
D)  extended, so that their profits can increase. 
E)  to be the same for government patent holders as for multinational companies. 
A)  extended, to allow them to build their competitive advantage. 
B)  extended, so that they can recoup development costs. 
C)  reduced, so that they can enter the game earlier, possibly with generics. 
D)  extended, so that their profits can increase. 
E)  to be the same for government patent holders as for multinational companies.

Question 10

In the United States and EU, attitudes toward competition:

Accepted Answer

A)  are quite similar. 
B)  are based on differing assumptions, with the United States following a per se concept and the EU concerned about the existence of harm. 
C)  differ because the EU is anticompetitive; its Commission on Competition ensures competition isn't too severe. 
D)  differ on the role of market dominance, with the United States supporting it and the EU wanting to avoid it. 
E)  are both focused on prevention of price fixing. 
A)  are quite similar. 
B)  are based on differing assumptions, with the United States following a per se concept and the EU concerned about the existence of harm. 
C)  differ because the EU is anticompetitive; its Commission on Competition ensures competition isn't too severe. 
D)  differ on the role of market dominance, with the United States supporting it and the EU wanting to avoid it. 
E)  are both focused on prevention of price fixing.

Question 11

Tariffs are categorized as financial and political forces, but they are usually not seen as legal forces.

Accepted Answer

A) True 
 B)False

Question 12

The U.S. enforcement of Equal Employment Opportunity Commission (EEOC) law in U.S. companies operating abroad is an example of extraterritoriality.

Accepted Answer

A) True 
 B)False

Question 13

Many smaller and developing nations want to reduce patent protection from the current 15 to 20 years down to 5 years or even 30 months.

Accepted Answer

A) True 
 B)False

Question 14

How are antitrust laws enforced?

Accepted Answer

Antitrust laws are enforced extraterrito

Question 15

By UN regulation, contracts cannot contain choice-of-law and choice-of-forum clauses.

Accepted Answer

A) True 
 B)False

Question 16

Where litigation should occur has to do with the location of the problem and is usually clear to both the defendant and the plaintiff.

Accepted Answer

A) True 
 B)False

Question 17

The Alien Tort Statute allows foreigners to:

Accepted Answer

A)  sue in U.S. courts for residency in the United States. 
B)  file claims in U.S. courts for violations of international law that may have occurred beyond U.S. borders. 
C)  file claims in U.S. courts for alleged violations of foreign laws. 
D)  file claims against other foreign nationals for violations of U.S. EEOC law. 
E)  avoid prosecution from U.S. laws as long as they live, work, and have citizenship in another country. 
A)  sue in U.S. courts for residency in the United States. 
B)  file claims in U.S. courts for violations of international law that may have occurred beyond U.S. borders. 
C)  file claims in U.S. courts for alleged violations of foreign laws. 
D)  file claims against other foreign nationals for violations of U.S. EEOC law. 
E)  avoid prosecution from U.S. laws as long as they live, work, and have citizenship in another country.

Question 18

The United States at times applies antitrust law extraterritorially.

Accepted Answer

A) True 
 B)False

Question 19

The concept of strict liability, as found in the U.S. legal system, applies:

Accepted Answer

A)  to harm done by the designer/manufacturer without the need to prove negligence. 
B)  to harm done within narrow limits, considering the design of the product. 
C)  to children harmed by products in both the United States and the EU. 
D)  strictly to harm caused by the designer/manufacturer, so no penalties outside of damages can be awarded. 
E)  none of the above. 
A)  to harm done by the designer/manufacturer without the need to prove negligence. 
B)  to harm done within narrow limits, considering the design of the product. 
C)  to children harmed by products in both the United States and the EU. 
D)  strictly to harm caused by the designer/manufacturer, so no penalties outside of damages can be awarded. 
E)  none of the above.

Question 20

Arbitration provides foreign businesses a forum other than the U.S. court system to address disputes that involve U.S. sellers or buyers.

Accepted Answer

A) True 
 B)False

Global standardization of trade-related law is progressing slowly.

The existence of the rule of law in a foreign market suggests that:

Standardization of law:

WIPO is a:

Punitive damages in product liability cases can be awarded in:

Under U.S. law, price fixing is illegal per se, while in other countries, damage or harm has to be done; this is the case in the EU.

The degree to which a country's legal system is based on the rule of law makes no difference; it is personal relationships that matter in foreign environments.

Public international law refers to legal relations between governments and publicly held companies.

Smaller nations would like patent protection:

In the United States and EU, attitudes toward competition:

Tariffs are categorized as financial and political forces, but they are usually not seen as legal forces.

The U.S. enforcement of Equal Employment Opportunity Commission (EEOC) law in U.S. companies operating abroad is an example of extraterritoriality.

Many smaller and developing nations want to reduce patent protection from the current 15 to 20 years down to 5 years or even 30 months.

How are antitrust laws enforced?

By UN regulation, contracts cannot contain choice-of-law and choice-of-forum clauses.

Where litigation should occur has to do with the location of the problem and is usually clear to both the defendant and the plaintiff.

The Alien Tort Statute allows foreigners to:

The United States at times applies antitrust law extraterritorially.

The concept of strict liability, as found in the U.S. legal system, applies:

Arbitration provides foreign businesses a forum other than the U.S. court system to address disputes that involve U.S. sellers or buyers.

The Challenging World of International Business

International Trade and Foreign Direct Investment

International Institutions From an International Business Perspective

Sociocultural Forces

Natural Resources and Environmental Sustainability

Political and Trade Forces

The International Monetary System and Financial Forces

International Competitive Strategy

Organizational Design and Control

Global Leadership Issues and Practices

Assessing International Markets

Entry Modes

Export and Import Practices

Marketing Internationally

Global Operations and Supply Chain Management

Managing Human Resources in an International Context

International Accounting and Financial Management

Filters

Exam 7: Intellectual Property and Other Legal Forces

Global standardization of trade-related law is progressing slowly.

The existence of the rule of law in a foreign market suggests that:

Standardization of law:

WIPO is a:

Punitive damages in product liability cases can be awarded in:

Under U.S. law, price fixing is illegal per se, while in other countries, damage or harm has to be done; this is the case in the EU.

The degree to which a country's legal system is based on the rule of law makes no difference; it is personal relationships that matter in foreign environments.

Public international law refers to legal relations between governments and publicly held companies.

Smaller nations would like patent protection:

In the United States and EU, attitudes toward competition:

Tariffs are categorized as financial and political forces, but they are usually not seen as legal forces.

The U.S. enforcement of Equal Employment Opportunity Commission (EEOC) law in U.S. companies operating abroad is an example of extraterritoriality.

Many smaller and developing nations want to reduce patent protection from the current 15 to 20 years down to 5 years or even 30 months.

How are antitrust laws enforced?

By UN regulation, contracts cannot contain choice-of-law and choice-of-forum clauses.

Where litigation should occur has to do with the location of the problem and is usually clear to both the defendant and the plaintiff.

The Alien Tort Statute allows foreigners to:

The United States at times applies antitrust law extraterritorially.

The concept of strict liability, as found in the U.S. legal system, applies:

Arbitration provides foreign businesses a forum other than the U.S. court system to address disputes that involve U.S. sellers or buyers.

The Challenging World of International Business

International Trade and Foreign Direct Investment

International Institutions From an International Business Perspective

Sociocultural Forces

Natural Resources and Environmental Sustainability

Political and Trade Forces

The International Monetary System and Financial Forces

International Competitive Strategy

Organizational Design and Control

Global Leadership Issues and Practices

Assessing International Markets

Entry Modes

Export and Import Practices

Marketing Internationally

Global Operations and Supply Chain Management

Managing Human Resources in an International Context

International Accounting and Financial Management

Filters