Module 11 - Legal & Gov't considerations in INTB Flashcards
What are the two types of law that international business is concerned with?
Comparative law & international law
What is comparative law?
comparing the legal system of different countries
What are the two types of international law?
Public & private
What is public international law?
deals with relationships between countries; involves treaties, wars, the sea, etc.
What is private international law?
international law that deals with issues between persons and businesses including settlement of conflicts & enforcement of contracts
What are the 4 major legal systems that are found internationally?
- code law
- anglo-american common law
- islamic law
- socialist law
What is code law?
civilian law that does not depend upon legal precedent; dependent on the principles of the French Revolution (Quebec, Europe, Japan, Latin America)
What is anglo-american common law?
decisions are made based on precedent
What is Islamic/ Sharia Law?
based on the Qur’an, saying and deeds of Mohammed, interpretations by islamic scholars, & legal consensus; based on ethics and moral issues as well as commercial law
What is socialist law?
based on communist ideology related to private property, personal rights, & business organizations (not as important anymore)
What are some (5) legal issues that can affect international businesses?
- dispute settlements
- trademarks & intellectual property
- employment regulations
- marketing & communication
- financial information
What is the difference between HIGH CONTEXT and LOW CONTEXT cultures when settling disputes?
HIGH CONTEXT: prefer a style that avoids finding out who is to blame/ who should be punished; lawsuit may be viewed as disrupting harmony severely - losing face
LOW CONTEXT: tend to adhere to written contracts so litigation is seen as appropriate if not abided by
Cultural views on ___ ____ influence laws on trademarks
private property
How do LOW CONTEXT cultures handle job safety laws?
detailed rules and regulations to help make a safe work environment
How do HIGH CONTEXT cultures handle job safety laws?
not all accidents can be avoided therefore detailed rules may be missing
What attributes of marketing are regulated differently across countries?
role of children, language, standards of decency
