Chapter 6 & 7 Flashcards

1
Q

Sovereignty

A

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

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2
Q

Nationalism

A

An intense feeling of national pride and unity; an awakening of a nation’s people to pride in their country

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3
Q

Confiscation

A

The seizing of a company’s assets without payment (most prevalent in the 50’s & 60’s)

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4
Q

Expropriation

A

The seizure of an investment by a government in which some reimbursement is made to the investment owner; often the seized investment becomes nationalized

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5
Q

Domestication

A

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

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6
Q

Political and social activists (PSAs)

A

Individuals who participate in efforts to change the practices and behaviors of corporations and governments, with tactics that can range from peaceful to terrorism

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7
Q

Nongovernmental organizations (NGOs)

A

Large advocacy organizations, usually non-for-profit, often multinational, and run by citizens rather than companies or governments

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8
Q

Arbitration

A

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

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9
Q

Code law

A

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.

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10
Q

Common law

A

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)

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11
Q

Conciliation

A

A non-binding agreement between parties to resolve disputes by asking a third party to mediate differences. (Also known as mediation)

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12
Q

Cybersquatters (CSQs)

A

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.

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13
Q

Islamic law (The Shari’ah)

A

Legal system based on the interpretations of the Quran. Encompassing religious duties, obligations, and other secular aspects of the law regarding human acts.

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14
Q

Litigation

A

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

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15
Q

Marxist-socialist tenets

A

The set of views in which law is subordinate to prevailing economic conditions.

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16
Q

Prior use

A

The principle, as observed in the U.S. and other common-law nations, that ownership of intellectual property rights usually goes to whoever can establish first use

17
Q

Registration

A

Filing appropriate legal documents with the appropriate intellectual property agencies, international or domestic

18
Q

Two Notable Examples of Confiscations of U.S Property

A
  • When Fidel Castro became the leader of Cuba
  • When Shah of Iran was overthrown
19
Q

An example of expropriation

A

In 2008 the Chavez regime in Venezuela expropriated Mexico’s CEMEX operations, paying a negotiated price

20
Q

Only U.S. state to use code law

A

Louisiana (the rest of the states use common law)

21
Q

Examples of NGOs

A
  • Green Peace
  • Amnesty International
  • The Red Cross
22
Q

One thing Islamic law prevents

A

Paying interest

23
Q

What nations did Marxist-socialist tenets influence

A

China and former Russia’s Soviet Union