Essay on "CAD Mex Globalism"

Essay 3 pages (1231 words) Sources: 3

[EXCERPT] . . . .

The impetus of trust would focus on Gentura being unable to actually market ProPrez in other countries, even under a different name, if the formulation was patented and the agreement enforceable in other countries that were signatories of major trade agreements.

Just as each sovereign nation has a set of rules and regulations that have arisen out of their particular culture, called law or legalism, once countries began to trade with one another and interact more regularly, it began necessary to find a way to build relationships between nations, and thus find a framework that would aid in disputes and other contractual or legal matters. It differs from national legalism in that in primarily concerns national or corporate behavior rather than that of private citizens. National law may also become international law when treaties delegate jurisdiction (e.g. The European Court of Human Rights or the International Criminal Court or even the Geneva Convention), but all are based on consent. A state may or may not participate in international legal treaties, but then may have consequences in trade or other agreements with member states. However, almost all legalisms surrounding international law state that the sovereignty of the nation is critical for a harmonious international relationship (Stomanson, 2011). Protection for CaDMex would be in the form of pressure from the WTO to ensure Candore to operate legally, and for Gentura to be able to market its product. A contract could be set up that, once signed, would put any legal matters into an International Court of Arbitration or other body, if the signatures included some codicil with the Candorean government.

When there is a conflict of law, the contract verbiage is the most important document to decide the responsibilities of each party. The best solution to protect both sides, and evade the question of local vs. international rights would be to place a clause that chooses International Arbitration over Candorean or U.S. Courts. In fact, Gentura would likely quality for the Foreign Sovereign Immunities Act, would disallow any U.S. legal involvement. Similarly, there would be tremendous risk involved in litigating in Candorean Courts because of the potential of governmental interference (U.S. Government, 1976).

Another solution to the issue would be to form a joint venture between Gentura and CaDMex either incorporated in the United States or in another country that is a signatory of International Trade agreements. In this way, the language of the contract could benefit both by having strict legal means of following procedure in the event of conflict. In addition, stocks issues for this company could be done so that it was a win-win financially, and would thus only include the production of one drug, at the moment, ProPrez. It does not really matter where the materials are being manufactured, shipped, or the marketing address; what matters is where the legal entity is located and under what laws can be enforced internationally. Still, it would be to both organization's advantage to opt for International Arbitration, saving time, money and finding a solution to the potential problem that both organizations can embrace (Lathrop, 2011).

REFERENCES

CISG Law. (2011). Pace University. Retrieved from: http://www.cisg.law.pace.edu/cisg/text/e-text-01.html.

Uncertainties bedevil plans to keep world trade flowing. (2008, November 28). The

Canberra Times. Retrieved from: http://www.canberratimes.com.au/news / opinion/editorial/general/uncertainties-bedevil-plans-to-keep-world-trade-flowing/1372766.aspx.

Mayfield, M. (2003, April 1). Doing Business Across Borders. Retrieved from SVC.com: http://svconline.com/mag/avinstall_doing_business_across/

Stomanson, W. (2011). Fundamental Perspectives on International Law. Boston: Wadsworth Publishing.

U.S. Government. (October 21, 1976). Foreign Sovereign Immunities Act. Retrieved from: http://archive.usun.state.gov/hc_docs/hc_law_94_583.html READ MORE

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