Chapter 6 & 7 Flashcards
Sovereignty
The powers exercised by a states in relation to other countries, as well as the supreme powers of a state as exercised over its own inhabitants
Nationalism
An intense feeling of national pride and unity; an awakening of a nation’s people to pride in their country
Confiscation
The seizing of a company’s assets without payment (most prevalent in the 50’s & 60’s)
Expropriation
The seizure of an investment by a government in which some reimbursement is made to the investment owner; often the seized investment becomes nationalized
Domestication
A process by which a host country gradually transfers foreign investments to national control and ownership through a series of government decrees mandating local ownership and greater national involvement in company management
Political and social activists (PSAs)
Individuals who participate in efforts to change the practices and behaviors of corporations and governments, with tactics that can range from peaceful to terrorism
Nongovernmental organizations (NGOs)
Large advocacy organizations, usually non-for-profit, often multinational, and run by citizens rather than companies or governments
Arbitration
A procedure used as an alternative to litigation, in which parties in a dispute may select a disinterested third party or parties to referee to determine the merits of the case and make a judgement that both parties agree to honor
Code law
A legal system based on an all-inclusive system of written rules, or codes, of law; generally divided into three separate codes: commercial, civil, and criminal.
Common law
The body of law is based on tradition, past practices, and legal precedents set by courts through interpretations of statutes, legal legislation, and past rulings. (Also known as English law)
Conciliation
A non-binding agreement between parties to resolve disputes by asking a third party to mediate differences. (Also known as mediation)
Cybersquatters (CSQs)
People or businesses that buy, usually for a nominal fee, and register as website names (descriptive bounds, celebrity names, variations on company trademarks, geographic and ethnic group names, and pharmaceutical and other descriptions) and then hold them until they can be sold at an inflated price.
Islamic law (The Shari’ah)
Legal system based on the interpretations of the Quran. Encompassing religious duties, obligations, and other secular aspects of the law regarding human acts.
Litigation
The process in which a dispute between parties is contested in a formal judicial setting: commonly instigated by a lawsuit asserting one party’s version of the facts
Marxist-socialist tenets
The set of views in which law is subordinate to prevailing economic conditions.
