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INTERNATIONAL BUSINESS.

Focus on laws that regulate international business. Sources of international economic law. Complexity of doing business with another country; contracts, torts, unfair trade, economic malfeasance. Multiple regulations and cultural background of the laws a businessperson must know. Organizations with the U.S. Department of Commerce to help businessperson. U.S. law and international business.

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Laws That Regulate International Business
Introduction
In September 2002, in the magazine Foreign Policy, Kofi Annan, the Secretary-General of the United Nations and recipient of the 2001 Nobel Peace Prize, wrote a long article talking about the new globalization of laws:
what binds us into an international community? In the broadest sense, there is a shared vision of a better world for all people. . . there is a sense of common vulnerability in the face of global warming and the threat posed by the spread of weapons of mass destruction. There is the framework of international law, treaties, and human rights conventions (Koffi, 2002, 12).
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Although there is a bewildering array of laws and regulations to gothrough before doing business with another country, there is one savinggrace. pop music CDs are being sold in every reachable shoppingalley and crowded sidewalk (Piracy, 2 1, 7) References Annan, K. (2 1, June 11), U.S. Best estimates from Westlaware that there are more than 1, , variations of these laws andregulations. (2 2, Sept. In the Far East, illegal copies of MicrosoftWindows and U.S. For example,the current laws are no longer adequate in preventing protectedintellectual properties from being electronically plagiarized anddistributed on a global scale. (2 2, May 6), Goodbye Reform,International Business: Politics: Goodbye Reform, Business Week, 48. The international law firm of O'Melveny & Myers prepares a smallbrochure for its clients who wish to begin doing business with anothercountry. (2 ), Cayman Islands Business Laws, London: Intl Law &Taxation Publishers multinationals (Morse, Fonda, & Philadelphia, 2 1, B16). All export laws andrulings and regulations concerning imports and exports generate from thisorganization. . There is one table in that brochure that helps put a focus on thecomplexity of the situation. Civil law tendedto be capricious, and often unfair (Starchild, 2 ). One powerful organization within the Department of Commerce is theBureau of Export Administration (BXA) which is charged with directing USexport control policy including license applications and enforcement of USexport control laws over a wide range of products, technology and software.Additionally, the BXA is the primary licensing agency for dual use exports(commercial items that could have military applications). In addition, American law schools tend to also go for a very practicalstudy of negotiation of business transactions, the documentary sale and useof letters of credit, currency issues, technology transfers, transactionsin developing and non-market economies, dispute settlement, and theimmunity of states and use of the act of state doctrine in commercialtransactions. National, regional, andinternational law (public and private), policy and customary practices areall components of international economic law. law is becoming the lingua franca of international business. Radcliff, D. Last year 1,4 foreign nationals enrolled in standard three-year programs at U.S. Many of the world's trade regulations and forms in individualcountries are patterned on organizations and systems created in the UnitedStates. International economic law is not derived from a single source or evenseveral sources of law; it has its genesis in many. . LawBecomes The Global Standard And in response, foreign students are crowdinginto American law schools, Time, B16 Sykes, A.O. Eventhe United States Department of Commerce has prepared several booklets andbooks that cover the protocols of appointments, business entertaining,greetings, forms of address, gestures, dress, and gifts in 6 of thenations that an American will most likely be doing business. That table points out that there are 214countries which have economic relationships with the United States and thatthere are more than 1 , laws within those countries that have to dowith contracts, more than 4 , laws that have to do with torts, and morethan 3 , laws that have to do with unfair trade and economicmalfeasance (Starchild, 2 , 34). An additional 2,8 enrolled in master of laws programs--a 62% increase since 1996. And even with such streamline efforts such as the EuropeanEconomic Union, and SEATO and NAFTA there are still multiple regulationsthat the businessperson must also take into account the cultural backgroundof these laws. "International economic lawencompasses a wide spectrum of subjects including trade in goods andservices, financial law, economic integration, development law, businessregulation and intellectual property. . Because of the internationalism of the United States economy, and thefact that the United States is one of the major G-7 nations, and has abusiness presence almost all around the world, there are numerous books nowon the market that are designed to provide a broad introduction to thepeople and institutions who practice international business transactions,and the government and multilateral organizations which both encourage andrestrict trade. Laws That Regulate International Business Introduction In September 2 2, in the magazine Foreign Policy, Kofi Annan, theSecretary-General of the United Nations and recipient of the 2 1 NobelPeace Prize, wrote a long article talking about the new globalization oflaws: what binds us into an international community? 1), What is the international community?,Foreign Policy, 12 Morse, J.; Fonda, D.; Philadelphia, D. (2 1, July 9), Playing by Europe's rules, Computerworld,4 Starchild, A. This confirms that the person or company wishing to do business inanother country other than his or her own must be aware of numerousinternational, regional, national, and non-governmental entities thatproduce a wide range of forms and documents including internationalconventions, treaties, bilateral agreements, model laws, guidelines,statistics, and interpretative materials, since many of these documents canaffect one's options (Matlack, Edmondson, & Ewing, 2 2). (2 2, April 1), New directions in law and economics,American Economist, 28-64 Author not available (2 1, April 3 ), Report : Piracy: Globalproblem, global solution, Business Week International, 4-3 -2 1, pp 7. The knowledge these students gain of American-style contracts, corporate accounting and securities law makes them valuable for negotiating international deals--either for companies or law firms in their homelands or for U.S. For instance, England and its former colonies functioned with a legaltradition known as "Common Law" where the laws were codified and madepublic for everyone to see and understand. In the broadest sense, there is a shared vision of a better world for all people. Many other European nations,such as Spain, Italy and France, have a legal heritage known as Civil Law,which was law that was based on the pleasure of the king. Matlack, C.; Edmondson, G.; Ewing, J. there is a sense of common vulnerability in the face of global warming and the threat posed by the spread of weapons of mass destruction. law schools. There is another reason, according to Morse, Fonda, &Philadelphia (2 1): U.S. American law schools traditionally spend a great deal of time teachingstudents to think, and most schools have law reviews, litigation training,internships, moot courts and other activities that force the act ofthinking on the feet. International Trade Laws This body of laws and regulations focus on how countries conduct tradein goods and services across national borders. This expansive scope presents achallenge for identifying relevant information" (Radcliff, 2 1, 4 ). A good understanding of how to learn about the laws that can affectthe business venture is to turn to the legal resources of the United StatesDepartment of Commerce which has as its mission and obligation the act ofencouraging and assisting business growth, and the department maintainsseveral organizations designed to help the American businessperson avoidunfair competition. As a special report in 2 1 showed, there is even an increase inforeign law students coming to America to get an American law degree. . Another powerful organization within the Department of Commerce is theInternational Trade Administration (ITA) which promotes global trade andhelps American businesses open up new overseas markets. The reasoning behind these books is that in a global economy, it iscrucial for business people to be sensitive to cultural differences. There is the framework of international law, treaties, and human rights conventions (Koffi, 2 2, 12).This paper will focus on international business law only, and will ignorethe laws that have to do with crimes such as smuggling, treaty violations,customs fraud, and so on. It can be argued that those are economic crimes,but the most serious forms of redress for violations of these laws are inthe criminal court systems.

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