Exam 7: Intellectual Property and Other Legal Forces

Japanese cultural values suggest that in Japan, antitrust law against cartels would be strictly enforced.

Intellectual property includes patents and trademarks but not copyrights.

The EU does not apply its competition policy beyond the EU.

Trademarks can be:

The UN Convention on the International Sale of Goods (CISG) has established legal rules and outlined the rights and obligations of the buyer and seller.

The United States and the EU:

The United Kingdom Bribery Act includes penalties for corporate failure to prevent bribery, but only if the act of bribery occurred in the United Kingdom.

The end result of legal trade obstacles is often:

Although arbitration procedures may be confidential, enabling a company to avoid unwelcome publicity accompanying an open court case, arbitration is generally slower than law courts.

The main source(s) of international law is(are):

If an international manager runs afoul of a miscellaneous law while working abroad, calling the embassy:

Anyone studying legal forces affecting international business soon realizes that:

One difference between the U.S. and EU approaches to antitrust law is that:

Product liability is an area of torts in which the U.S. courts can make large awards, unlike in other countries.

If you are a Westerner and become victim of a miscellaneous law in a foreign country, all you have to do is call your embassy and you'll be released to your government.

Antitrust laws differ among countries, and complying with them is often difficult for the firm, so:

The ISO (International Organization for Standardization) is the only international standardizing organization.

Describe approaches to international dispute settlement.

U.S. accounting practice is guided by the Securities and Exchange Commission (SEC) and the International Accounting Standards Board (IASB), and it follows standards known as generally accepted accounting principles (GAAP).

Discussion of bribery and transparency has generally not come into despite the Foreign Corrupt Practices Act (FCPA), the OECD convention, and the UN initiative.