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Rationale

Learning Outcomes

Teaching and Learning Resources

Introduction to Law
The Legal Environment of International Business
Sales, Agency, and Business Organizations
International Sales, Credit and the Commercial Transactions
Contracts
Commercial Paper, Property
International and US Trade Law
Trade Law in Europe
Regulation of the International Market Place
Business and Technology
Research Projects

Chat Lines, Discussion Forums, Wikis

Related Workshops

Case Studies

Learner Support

Recommended Texts

Resources

Indian Commercial Law and Practice

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International Business Law

Rationale

Commercial Law or Business Law is the body of law which governs business and commerce and is often considered to be a branch of civil law and deals both with issues of private law and public law. Commercial law regulates corporate contracts, hiring practices, and the manufacture and sales of consumer goods. Many countries have adopted civil codes which contain comprehensive statements of their commercial law. In the United States, commercial law is the province of both the Congress under its power to regulate interstate commerce, and the states under their police power. Efforts have been made to create a unified body of commercial law in the US: the most successful of these attempts has resulted in the general adoption of the Uniform Commercial Code.

Various regulatory schemes control how commerce is conducted, privacy laws, safety laws (i.e. OSHA in the United States) food and drug laws are some examples.

See also

Singapore ‘best country in which to run a business’

Learning Outcomes

After completing this modules, students will be able to

1. Identify the sources of international systems of law

2. Cite and describe the major classifications of law

3. Discuss corporate codes of ethics

4. Explain the legal concept of liability and provide examples

5. Identify the elements of an enforceable contract

6. Explain the provisions of major laws governing business competition

7. Describe contracts that (a) should not be in writing, (b) should be in writing, and (c) must be in writing

8. Explain how title and certificates of title relate to the concept of ownership

9. Discuss shipments made f.o.b. shipping point and f.o.b. destination

10. Explain the term warranty and distinguish between express and implied warranties

11. Explain the major characteristics of a corporation

12. Explain presentment and dishonour of commercial paper

13. Discuss domain names and how businesses might take action to prevent cybersquatting

14. Explain copyrights and how the doctrine of fair use applies to them

15. Explain how contracts formed online are offered, accepted, and signed

16. Explain how professionals protect themselves against the losses that might result from being found liable for malpractice or negligence

17. State how trade sanctions and embargoes, export and import controls, and boycotts are utilized by governments to achieve economic and political ends

18. Explain the purposes of the World Trade Organization, the International Monetary Fund, the World Bank, the North American Free Trade Agreement, and the European Union

19. Identify several types of environmental problems that are regulated by the government

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Learning Contents

Introduction to Law

Tutorials

Readings

Civil Law is a codified system of law that sets out a comprehensive system of rules that are applied and interpreted by judges. It has its origins in Roman law. However, modern systems are descendants of the 19th century codification movement, during which the most important codes (most prominently the Napoleonic Code and the BGB) came into existence. The civilian system is by and large the most widely practiced system of law in the world.

Overview
History
Civil versus common law
Criminal procedure
Subgroups
- Legal Materials from the Middle East
- United Arab Emirates: UAE Law
- French civil law: in France, the Benelux countries, Italy, Spain, Portugal and former colonies of those countries;
- German civil law: in Germany, Austria, Switzerland, Greece, Turkey, Japan, South Korea and the Republic of China (Taiwan);
- Scandinavian civil law: in Denmark, Sweden, Finland, Norway and Iceland.
- Chinese law is a mixture of civil law and socialist law.
- India Law World
Economic implications

See also

Middle East & Islamic Studies Collection

Bibliography

Larger Map

Activity

Elvis Presley and Property Rights

Image: 'The King' in action.
Title: Elvis Performing. Copyright: Getty Images,
available from Education Image Gallery

Corporate Responsibility

Image: Can McDonald's be part
of a healthy diet?
Source: Holger Dieterich, stock xchng

The Legal Environment of International Business

Tutorials

Internet Applications

Readings

Introduction to Research in International Law

International business is a term used to collectively describe all commercial transactions (private and governmental, sales, investments, logistics,and transportation) that take place between two or more regions, countries and nations beyond their political boundary. Usually, private companies undertake such transactions for profit; governments undertake them for profit and for political reasons.^[1] It refers to all those business activities which involve cross border transactions of goods, services, resources between two or more nations. Transaction of economic resources include capital, skills, people etc. for international production of physical goods and services such as finance, banking, insurance, construction etc.^[2].

A multinational enterprise (MNE) is a company that has a worldwide approach to markets and production or one with operations in more than a country. An MNE is often called multinational corporation (MNC) or transnational company (TNC). Well known MNCs include fast food companies such as McDonald's and Yum Brands, vehicle manufacturers such as General Motors, Ford Motor Company and Toyota, consumer electronics companies like Samsung, LG and Sony, and energy companies such as ExxonMobil, Shell and BP. Most of the largest corporations operate in multiple national markets.

Areas of study within this topic include differences in legal systems, political systems, economic policy, language, accounting standards, labor standards, living standards, environmental standards, local culture, corporate culture, foreign exchange market, tariffs, import and export regulations, trade agreements, climate, education and many more topics. Each of these factors requires significant changes in how individual business units operate from one country to the next.

The conduct of international operations depends on companies' objectives and the means with which they carry them out. The operations affect and are affected by the physical and societal factors and the competitive environment.

Operations

Objectives: sales expansion, resource acquisition, risk minimization

Means

Modes: importing and exporting, tourism and transportation, licensing and franchising, turnkey operations, management contracts, direct investment and portfolio investments.

Functions: marketing, global manufacturing and supply chain management, accounting, finance, human resources

Overlaying alternatives: choice of countries, organization and control mechanisms

Physical and societal factors

Political policies and legal practices
Cultural factors
Economic forces
Geographical influences

Competitive factors

Major advantage in price, marketing, innovation, or other factors.
Number and comparative capabilities of competitors
Competitive differences by country
Local taxes

There has been growth in globalization in recent decades due to the following eight factors:

Technology is expanding, especially in transportation and communications.
Governments are removing international business restrictions.
Institutions provide services to ease the conduct of international business.
Consumers know about and want foreign goods and services.
Competition has become more global.
Political relationships have improved among some major economic powers.
Countries cooperate more on transnational issues.
Cross-national cooperation and agreements.

Studying international business is important because:

Most companies are either international or compete with international companies.
Modes of operation may differ from those used domestically.
The best way of conducting business may differ by country.
An understanding helps you make better career decisions.
An understanding helps you decide what governmental policies to support.

Managers in international business must understand social science disciplines and how they affect all functional business fields.

Tom Travis, the managing partner of Sandler, Travis & Rosenberg, PA. and international trade and customs consultant, uses the Six Tenets when giving advice on how to globalize one's business. The Six Tenets are as follows^[3]:

Take advantage of trade agreements: think outside the border
- Familiarize yourself with preference programs and trade agreements.
- Read the fine print.
- Participate in the process.
- Seize opportunities when they arise.
Protect your brand at all costs
- You and your brand are inseparable.
- You must be vigilant in protecting your intellectual property both at home and abroad.
- You must be vigilant in enforcing your IP rights.
- Protect your worldwide reputation by strict adherence to labor and human rights standards.
Maintain high ethical standards
- Strong ethics translate into good business.
- Forge ethical strategic partnerships.
- Understand corporate accountability laws.
- Become involved with the international business self-regulation movement.
- Develop compliance protocols for import and export operations.
- Memorialize your company's code of ethics and compliance practices in writing.
- Appoint a leader.
Stay secure in an insecure world
- Security requires transparency throughout the supply chain.
- Participate in trade-government partnerships.
- Make the most of new security measures.
- Secure your data.
- Keep your personnel secure.
Expect the Unexpected
- The unexpected will happen.
- Do your research now.
- Address your particular circumstances.
All global business is personal
- Go to the source.
- Keep communications open.
- Keep the home office operational.
- Fly the flag at your overseas locations.
- Relate to offshore associates on a personal level.
- Be available to overseas clients and customers 24/7.

According to C.K. Prahalad & S. Hart,2002, The fortune at the bottom of the pyramid, Strategy & Business, 26: 54-67, and (2) S.Hart, 2005, Capitalism at the Crossroads (p. 111), Philadelphia: Wharton School Publishing.

Top Tier: Per capita GDP/GNI > $20,000 Approximately one billion people

Second Tier: Per capita GDP/GNI $2,000-$20,000 Approximately one billion people

Base of the Pyramid Per capita GDP/GNI < $2,000 Approximately four billion people

Labour law (American English: labor) or employment law is the body of laws, administrative rulings, and precedents which addresses the legal rights of, and restrictions on, workers and their organisations. As such, it mediates many aspects of the relationship between trade unions, employers and employees. In some countries (such as Canada), employment laws related to unionised workplaces are differentiated from those relating to particular individuals. In most countries however, no such distinction is made. The labour movement, heavily influenced by socialism, has been instrumental in the enacting of laws protecting labour rights in the 19th and 20th centuries.

See also

External links

Globalization and the Future of Labour Law

Edited by John D. R. Craig, Heenan Blaikie LLPS.
Michael Lynk, University of Western Ontario

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Sales, Agency and Business Organisations

Tutorials

Readings

Agency is an area of Commercial law dealing with a contractual or quasi-contractual tripartite set of relationships when an Agent is authorised to act on behalf of another (called the Principal) to create a legal relationship with a Third Party. This branch of law separates and regulates the relationships between:

Agents and Principals;

Agents and the Third Parties with whom they deal on their Principals' behalf; and

Principals and the Third Parties when the Agents purport to deal on their behalf.

The common law principle in operation is usually represented in the Latin phrase, qui facit per alium, facit per se, i.e. the one who acts through another, acts in his or her own interests and it is a parallel concept to vicarious liability and strict liability in which one person is held liable in Criminal Law or Tort for the acts or omissions of another..

The concepts

Brief statement of legal principles

2.1 Authority

Liability of Agent to Third Party

Liability of Agent to Principal

Liability of Principal to Agent

Liability of Third Party to Principal

Duties

Termination

Agency and partnership

Agency relationships

See also

Larger Map

Business organizations is an area of law that covers the broad array of rules governing the formation and operation of different kinds of entities by which individuals can organize to do business. The term is also used to describe the entities themselves. A variety of other terms are used fairly interchangeably to describe this area, including or business associations, business forms, and business entities. Reference to a "business" entity usually (though not always) indicates that entity's status as for-profit, as opposed to non-profit.

The law of business organizations originally derived from the common law of England, but has evolved significantly in the Twentieth Century. In common law countries today, the most commonly addressed forms are:

The sole proprietorship - this is, however, a single-person operation, and therefore not truly any kind of "organization".

The partnership, sometimes called a "general partnership".

The limited partnership (LP).

The limited liability partnership (LLP).

The corporation (Inc.,Co.,Corp.).

The limited liability company (LLC,Ltd.).

Less commonly used business forms include the limited liability limited partnership (LLLP), and the limited company (LC). The proprietary limited company is a statutory business form unique to Australia.

Other types of business organizations, such as cooperatives, credit unions and publicly-owned enterprises, can be established with purposes that parallel, supersede, or even replace the profit maximization mandate of business corporations. Other business forms are available in civil law countries, such as the German Gesellschaft mit beschränkter Haftung (GmbH) and Aktiengesellschaft (AG); and the S.A., a form used in a number of countries which translates from various languages into the equivalent of anonymous society or anonymous company.

Activity

No Way to Run a Business?

Scunthorpe fans celebrate promotion to the Second Division in 1999
Title: Fans. Copyright: Getty Images, available from
Education Image Gallery (http://edina.ac.uk/eig)

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International Sales, Credits, and Commercial Transactions

Tutorials

Internet Applications

Readings

International commercial law is the body of law that governs international sale transactions.^[1] A transaction will qualify to be international if elements of more than one country are involved.^[2]

Since World War II international trade has grown extensively, seeing the increasing importance of international commercial law. It plays a vital role in world development, particularly through the integration of world markets.

Lex mercatoria refers to that part of international commercial law which is unwritten, including customary commercial law; customary rules of evidence and procedure; and general principles of commercial law.^[3]

See also

External links

Contracts

Tutorials

Readings

A contract is a "promise" or an "agreement" that is enforced or recognized by the law. In the civil law, contracts are considered to be part of the general law of obligations. This article describes the law relating to contracts in common law jurisdictions.

See also

External links

Commercial Paper, Property

Tutorials

Readings

Commercial paper is a money market security issued by large banks and corporations. It is generally not used to finance long-term investments but rather for purchases of inventory or to manage working capital. It is commonly bought by money funds (the issuing amounts are often too high for individual investors), and is generally regarded as a very safe investment. As a relatively low risk option returns are not large.

Real property is a legal term encompassing real estate and ownership interests in real estate (immovable property). It is a type of property differentiated from personal property.

Historical background

History of the word

British interpretation

Land relationship to owner

Definitions

Estate law

Economic aspects of real property

U.S. interpretation

Types of ownership interests

See also

External links

International and US Trade Law

Tutorials

Internet Applications

Readings

Trade Law in Europe

Tutorials

Researching European Law

Readings

European Union

The European Union (EU) is an intergovernmental and supranational union of 25 democratic member states from the European continent. The European Union was established under that name in 1992 by the Treaty on European Union (the Maastricht Treaty). However, many aspects of the Union existed before that date through a series of predecessor relationships, dating back to 1951. ^[1]

The Union nowadays has a common single market consisting of a customs union, a single currency managed by the European Central Bank (so far adopted by 12 of the 25 member states), a Common Agricultural Policy, a common trade policy, and a Common Fisheries Policy.^[2] A Common Foreign and Security Policy was also established as the second of the three pillars of the European Union. The Schengen Agreement abolished passport control, and customs checks were also abolished at many of the EU's internal borders, creating a single space of mobility for EU citizens to live, travel, work and invest. ^[3]

The most important EU institutions include the Council of the European Union, the European Commission, the European Court of Justice, the European Central Bank and the European Parliament. The European Parliament's origins go back to the 1950s and the founding treaties, and since 1979 its members have been directly elected by the people they represent. Elections are held every five years, and every EU citizen who is registered as a voter is entitled to vote.

The European Union's activities cover all areas of public policy, from health and economic policy to foreign affairs and defence. However, the extent of its powers differs greatly between areas. Depending on the area in question, the EU may therefore resemble a federation (e.g. on monetary affairs, agricultural, trade and environmental policy, economic and social policy), a confederation (e.g. on home affairs) or an international organisation (e.g. in foreign affairs).

Institutions and legal framework

EU institutions and bodies

Location of EU institutions

Legal framework

The role of the European Community within the Union

European Communities: European Community plus Euratom

European Union: European Communities plus CFSP and PJCC

Effect of Constitutional Treaty

Intergovernmentalism and supranationalism

Company Law & Corporate Governance

Regulation of the International Marketplace

Tutorials

Internet Applications

Readings

Import and Export Laws and Regulations

Business and Technology

Tutorials

Readings

In law, Intellectual Property (IP) is an umbrella term for various legal entitlements which attach to certain types of information, ideas, or other intangibles in their expressed form. The holder of this legal entitlement is generally entitled to exercise various exclusive rights in relation to the subject matter of the IP. The term intellectual property reflects the idea that this subject matter is the product of the mind or the intellect, and that IP rights may be protected at law in the same way as any other form of property.

Intellectual property laws vary from jurisdiction to jurisdiction, such that the acquisition, registration or enforcement of IP rights must be pursued or obtained separately in each territory of interest. However, these laws are becoming increasingly harmonised through the effects of international treaties such as the 1994 World Trade Organization (WTO) Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPs), while other treaties may facilitate registration in more than one jurisdiction at a time. Certain forms of IP rights do not require registration in order to be enforced.

Overview

Controversy

Exclusive rights

History

Critique

Overview

Arguments against the term

Alternative terms

Expansion in nature and scope of IP laws

Economic view

Alternative systems of protection

Valuation of intellectual property

See also

Types of intellectual property

Intellectual property in specific fields

Bibliography

External links

Research Projects

Business of Making Music

Employer/Employee Rights and Responsibilities

Readings

Recommended Texts

Essentials of Business Law, 6/e

Anthony L. Liuzzo, Wilkes University
Joseph G. Bonnice, Manhattan College, Riverdale, New York

ISBN: 0073054275
Copyright year: 2007

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International Business Law and Its Environment
6th Edition
Richard Schaffer - Professor Emeritus, Appalachian State University
Beverley Earle - Bentley College
Filiberto Agusti - Esq., Steptoe & Johnson, Attorneys at Law
0324261020

West's Case Updates

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International and Comparative Law Quarterly

Oxford Open

Business Law In Africa: Ohada and the Harmonization Process

Guide to legal and business development in Africa. Essential resource for international entrepreneurs and investors. Index, bib, apps, maps, 356pp, UK. KOGAN PAGE, 0749439084
2002 Hardback

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