Essay International Law

1263 Words Mar 23rd, 2015 6 Pages
International Law: Essential Aspects Explained

International Law helps governing relations among sovereign nations. It affects both society and individuals in many aspects. Today international law is not only about relations among different countries, but also how it is dealt internally. This paper will identify important international principles and doctrines, such as National Law, the Principle of Comity, and the Act of State and Sovereign Immunity Doctrines. This paper will also explore how business is done internationally by seeking foreign markets, exporting, and manufacturing abroad. International contracts and methods for making payments in international transactions will be explained. Break down the whole regulation
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There are many ways to go about with business internationally. One of the most simple and effective ways is to engage in foreign markets for domestically produced products or service, such as Nike having its products manufactured in China. U.S firms can export their goods and services to markets in other countries and ultimately can establish foreign production facilities to be closer to the foreign market, in which products would be sold and lower labor costs as well as fewer government regulations, lower taxes and less trade barriers can be taken advantage of. Another way to do business internationally is by exporting. There are two types of exporting, direct and indirect. Direct exporting specializes in when a U.S company signs a sales contract with a foreign purchaser that provides for the conditions of the shipment and payment for the goods. Indirect exporting deals with a U.S corporation deals with setting up specialized marketing organizations in foreign markets by appointing a foreign agent or a foreign distributor if sufficient business develops in a foreign country. A different approach to direct and indirect exporting is manufacturing abroad. Establishing Foreign-manufacturing facilities allows for U.S corporations to reduce their costs in

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