Introduction
The international market has become more connected and integrated during the last years. In fact, the globalization of markets has evolved the integration of business activities and permitted the global institutions to interact with each other; a French company that is headquartered in France operates in the U.S. and a German company operates in India. Actually, the international interaction of business units all over the world requires the implementation of international laws systems in order to protect businesses that operate abroad from local policies and regulations, especially in the developing countries, and host countries from taking advantage of their business immaturity from foreign businesses, especially large multinationals. Some international organizations have been designed to ensure the efficiency of the international trade between countries and to resolve the various business disputes between different nations, such as the World Trade Organization WTO. To summarize, the global market needs an efficient law system that includes all the tools necessary to maintain international trade and ensure that the international competitions between countries are conform to the international law.
The legal issues in the global market
Although trade obstacles have shrinked during the past years, international competition and interactions between countries in different industries still have legal issues at various levels. In fact, the differentiation …show more content…
Some of the principles of international law are:
a) Sovereign Immunity: this concept argues that each country is a sovereign nation and each country has exclusive jurisdiction over its internal operations, laws, and people. (Jennings, pp.
The international market has become more connected and integrated during the last years. In fact, the globalization of markets has evolved the integration of business activities and permitted the global institutions to interact with each other; a French company that is headquartered in France operates in the U.S. and a German company operates in India. Actually, the international interaction of business units all over the world requires the implementation of international laws systems in order to protect businesses that operate abroad from local policies and regulations, especially in the developing countries, and host countries from taking advantage of their business immaturity from foreign businesses, especially large multinationals. Some international organizations have been designed to ensure the efficiency of the international trade between countries and to resolve the various business disputes between different nations, such as the World Trade Organization WTO. To summarize, the global market needs an efficient law system that includes all the tools necessary to maintain international trade and ensure that the international competitions between countries are conform to the international law.
The legal issues in the global market
Although trade obstacles have shrinked during the past years, international competition and interactions between countries in different industries still have legal issues at various levels. In fact, the differentiation …show more content…
Some of the principles of international law are:
a) Sovereign Immunity: this concept argues that each country is a sovereign nation and each country has exclusive jurisdiction over its internal operations, laws, and people. (Jennings, pp.