Term Paper on "International Law Describe Two Major International Declarations"

Term Paper 5 pages (1585 words) Sources: 1+ Style: MLA

[EXCERPT] . . . .

International Law

Describe two major international declarations which relate to international environmental regulation. Describe the difference between sectoral and product pollution. In the response indicate how the 1982 Convention on the Law of the Sea has affected how marine pollution is dealt with internationally.

One of the key difficulties associated with International Environmental treaties is that environmental issues difference in specific area of the world. However, the seas represent a common resource that is shared by many nations. The UN Convention on Law of the Sea was held in 1982 in Montego Bay, Jamaica. This law was developed under the premise that areas of the ocean cannot be separated and that in order to control problems of the sea, a holistic approach must be taken (UN, Law of the Sea). The International Seabed Authority established a convention that sets down laws for control and protection of the seabed in International waters (International Seabed Authority).

Sector pollution refers to general types of pollution that are produced by a certain industry such as the oil industry, chemical industry or metals industry. Sector pollution is classified because each type of pollution poses a specific type of risk. Product pollution refers to pollution that is a result of use of a certain type of consumer product, such as hairspray, or cosmetics. Policies dealing with this type of pollution differ from sector pollution because they must deal with local disposal issues.

The 1982 Law of the Sea changed the way issues regarding the sea are handled. Each individual country used to be responsible for their coastal waters. However, the Law of the Sea took control away from individual countries. This was largely due to the detrimental effects of the acts of one country harming the waters of another. The Law of the Sea established uniformity of the laws among the 150 countries involved.

Define and describe the use of "negotiation" and "mediation" as methods of international dispute resolution. In your response compare these methods of dispute resolution with the use of international tribunals such as the International Court of Justice. In the response describe the jurisdiction of this international forum as well as its usefulness in international dispute resolution.

Negotiation and mediation are two related, but different terms used to resolve conflicts among two parties. Negotiation is conducted directly by the two parties that have the conflict. In a negotiation process the two parties meet with the intentions of coming to a compromise in which the dispute can be resolved. A facilitator may help the process along, but may not make any decisions in the actual negotiation process.

Mediation differs from negotiation in that it uses a trained, but impartial third party to help the sides reach a consensus on the substantive issues of the disagreement. A mediator must be neutral. Mediation differs from negotiation in that negotiation only involves the parties involved. Mediation may involve other interested parties such as the public, or other interested authorities. Mediation is usually employed when negotiations between the two parties have failed.

A tribunal refers to a judicial body. It is a court action, usually convened as a result of failed negations or mediation. Tribunals are typically limited in their jurisdiction or purpose. The scope and limitations of a tribunal are laid out specifically in their establishment. They may be of temporary duration or may be perpetual dealing with all cases of a certain type. A tribunal convenes to decide a case in which both parties have failed to reach an agreement. The laws that dictate the rules of the tribunal depend on the purpose and scope of the tribunal.

Define and describe the following business entities; Corporation, Limited Liability Company, and Limited Liability Partnership. Describe the advantages of doing business under each form. In addition describe the corporate hierarchy. In the response describe the functions of each of the three levels of the hierarchy. How does the United States differ from other countries in the issuance of the par value and non-par value corporate stock?

A corporation is a legal entity that is made of a group of people, but exists separately from them. A corporation can act as a legal entity and has many of the rights of an individual person. It exists separately from the people within it. The corporation can sigh contracts, pay taxes, and has certain constitutional rights. One of the key advantages of incorporating is that the individual business entities have limited liability for the corporation's debts and obligations. There are also certain tax advantages for corporations as well. Typically a board of directors or group of trustees governs the corporation on behalf of its members. However, members may have voting rights depending on how the Articles of Incorporation are organized.

Limited Liability Company's and Limited Liability Partnerships are similar to corporations and offer many of the same advantages as corporations. They are much more flexible than corporations and are typically smaller companies with a smaller number of owners. They are typically treated as a partnership for tax purposes. Owners report corporate income on their own individual tax returns. This form of corporation is flexible and may resemble a sole proprietorship or be more like a corporation. Hierarchy depends on the Articles of Incorporation and may be a single entity, or group of entities. There is less paperwork in this type of corporation.

The par value of a security is its face value, or nominal value. The par value will be different than the maturity value of the stock. Gold is typically the standard of exchange among stocks of different countries. The United States will allow corporations to issues non-par shares. However, this practice is not universal and may create difficulties in determining the value of a stock in international markets.

Describe three "models" a multi-national business entity might employ in conducting operations internationally. What advantages does a multi-national business enterprise gain in having a wholly owned subsidiary conduct business operations beyond the parent corporation's national home?

The three primary business models that a business may use to establish a multinational business are: franchise, satellite, or wholly owned subsidiary. A franchise is directed by an agreement. The owner of the business has to pay the parent company rents and fees. They must agree to operate according to certain rules and regulations. However, the franchise can be sold to another owner, but it still remains a reflection of the parent corporation. A satellite is like a separate office of the parent company. It operates like the parent corporation and is a legal part of the parent company. A wholly owned subsidiary is a different legal entity from the parent company, but the parent company owns 100% of the stock. There are no minority share holders.

The wholly owned subsidiary has many advantages in the international arena. Because they are a separate business entity they can adapt the rules and regulations of the parent company to meet the local conditions. A satellite must operate under the rules of the parent company, which may not be compatible with the local market or government regulations. A wholly owned subsidiary has the ability to adapt to its new location.

A wholly owned subsidiary can offer opportunities for market expansion when the market in a company's home country is on the decline. It can help to expand an existing market and give the company an opportunity to take advantage of emerging markets as well. The company can increase its brand equity and form alliances and partnerships that they may have otherwise missed. Having a wholly owned subsidiary gives the company a different perspective and access to greater innovation and creative processes that can help to expand markets in the home country as well.

Define and describe the term "Foreign Investment." Describe the process by which a business entity… READ MORE

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