International Legal and Ethical Issues Simulation Summary Essay

International Legal and Ethical Issues Simulation Summary

George Egloria

Thane Messinger

Addressing International Legal and Ethical Issues Simulation Summary

Issues involved

In jurisdictions where the assets or shares of the transactions are located, a local counsel will be a mandatory prerequisite. In addition, it is likely to engage the local counsel in the seller's jurisdiction. The process of selecting the appropriate company to collaborate with is important. Apart from competence, issues like commitment, trust, and confidentiality are crucial. It is also important for the local counsel to clear conflicts. Counsels must ensure that they are aware of the laws in every jurisdiction. This will make it easy for them to observe all the ethical structures of the local and international laws (Halbert & Ingulli, 2012). They should be aware of possible changes at all times and confidentiality agreements are important in such situations. This request is fair on the ground that the undertakings and covenants are reasonable.

Q2. Practical concerns in legal processes

Some practical considerations of taking legal action against a foreign business partner based in another country include foreign country laws, forum selection clause, current contracts, domestic laws, and international laws. Since the considerations can save good money for various business entities money, it will be needless to take legal actions to resolve disputes between partners if there is a forum selection clause. Legal action only worsens issues because it may mar the reputation of a business in foreign markets and cause damage in the parent country (Horn, & Norton, 2000).Additionally, language proficiency is a key consideration in multinational transactions. It is common to find various business documents to be in different languages other than English. It will be advantageous to have a lead counsel who has the required skills.

Q3. Factors disfavoring CadMex's decision

CadMex has fought its business risks by engaging in sublicensing. In case of any damages accruing from the drugs, Candore people will hold CadMex responsible. Although sublicensing local firms might be the second best option, the local firms should be trained to adhere to the guidelines set by CadMex. When the local firms commit errors, which eventually lead to deaths, CadMex will be taken to task. Because it has decided to sublicense local companies, it has introduced a competitor in the space, which carries another risk. CadMex must be confident that the value of its offering exceeds the patent and encourages competition in business. CadMex will be confronted with the issue of cost of production. Training the local firms will be costly, as the return on sales will not be achieved (Hoffman, 2008).

Q4. Local vs. organizational customs and laws

Every country has laws directed to foreign multinational companies operating within its borders. Representatives engaged in international business are obliged to know and comply with both laws and regulations of the nations….....