legal factors in international bussiness

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it shows how Legal Factors are affecting International Business...

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Legal factors/ ENVIRONMENT:

Legal factors/ ENVIRONMENT Prashant Sakariya, S.I.T. Email:- prashantsakariya@yahoo.in

Introduction :

Introduction Legal Environment refers to legal system obtaining in a country. The legal system of a country thus refers to the rules, or laws, the regulate behavior along with the processes by which the law are enforced and through which redress for grievances is obtained.

Several issues of legal systems:

Several issues of legal systems Different legal systems Differences in contract law Property rights (IPR) The protection of intellectual property

1) Different legal systems:

1) Different legal systems Common law system- it is based on tradition, judgment made, and usage in the court assign a position to existing cash flow of guide dispute resolution. Civil Law System- it is based on systematic and extensive codification of law.

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Theocratic Law system- this law system relies on religious and spiritual principles to define legal environment. Customary Law System- this law system anchors itself in the wisdom of daily experience or great spiritual or philosophical traditions.

2). Differences In Contract Law:

2). Differences In Contract Law Common law v/s Civil Law- Common law system have the advantage of greater flexibility and allow for judges to interpret a contract dispute in light of prevailing situation. Civil Law had a common law system may be back fire or vice-versa. CISG(Convention on Contracts For International Sale of Goods)- main aim of CISG is to settle a contract of dispute between seller and buyers.

3). Property Rights:

3). Property Rights Private Action- it refers to theft, piracy, blackmail, and like by private individual or groups. Public action and corruption- property rights occurs when public officials such as politicians, extort income or resources from property holder.

4). Protection Of Intellectual property and Its Regulations:

4). Protection Of Intellectual property and Its Regulations IP refers to product which is intangible, that is computer software or the chemical formula for a new drug. Intellectual Property includes Patents, Copyrights, Trademarks, etc. It differs from country to country because every country have its different rules and regulations. Paris convention for the Protection of Industrial Property, signed in Paris, France on March 20, 1883. by 96 countries for the protection of intellectual property.

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