Running head: ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Addressing International Legal and Ethical Issues Law 421

ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Addressing International Legal and Ethical Issues CadMex Pharma is a pharmaceutical company its headquarters are located in Tampa Florida. The company currently markets its product in one hundred and twenty-seven countries. CadMex is known to spend a substantial amount of money for manufacturing techniques, researching and the development of drugs. Gentura is a biotechnology company located in Candore. This small but rapidly developing country has managed to grow from an enzyme manufacture into a focus biotechnology company. While Gentura has developed a new antidiabetes drug called ProPrez, the country does not have the capital to market and manufacture their product on a global scale. CadMex and Gentura have negotiated a contractual relationship which will allow CadMex to research and develop ProPrez. Gentura will have the rights and the funds to market ProPrez globally (University Of Phoenix, 2004). Legal Disputes There are two laws to chose from when handling any deputes between CadMex and Gentura, both parties need to agree on the specified law which will be written in the contract. Contract for the International Sale of Goods or (CISG) was established legally to make international business transactions easier for both parties. However, Candore is not one of the signatories of CISG law and the United States is; if Gentura defaults CadMex states to lose a considerable amount of capital. The Candorean Regulations for Technology Import Contracts or (CRTIC) is recognized by their legal system. This law lays down very specific rules that CadMex and Gentura must adhere to, also the wording in the contract must be concise and effective. If Cad max chooses this law they will need a person who is knowledgeable in Candorean law. Disputes can also be resolves in one of three ways in a binding or unbinding arbitration, in the U. S. or Candorean courts.

ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Legal Action Candore has suffered a viral epidemic as a result Gentura is planning to finance a drug called ViroBlax, which violates the payment terms between the two companies. Some practical considerations of taking legal action against a foreign business partner based in another country is to take or not take legal action, but claim compensation or shared marketing rights of another product (University of Phoenix, 2011, p. 3). If CadMex's decides to grant sublicensing agreements they could lose the money they have already invested. CadMex could also lose any future rights and funds from the drug they originally invested in. Local Customs and Laws A companys policy with modification should prevail if conflicted with local customs and laws, but if the company follows procedures to ensure the health and safety of its employees and customers they can avoid any unnecessary lawsuits. If short and long term accommodations are in place with an understanding of the local customs and laws, they can then be implemented as an effective way to avoid lawsuits, strikes, suspensions, and delays. Conclusion Each country has its own culture in which they base their laws on. While you can compare the issues and cultures the laws are different. The Untied States law will not work in another country because our culture, ethics, and religious beliefs are different from other countries. Also the U. S. is stable while other counties are volatile and subjected to continual wars. Companies are given several options to resolving domestic and international issues how the disputes are handle is up to how the contracts are negotiated and the options the parties utilize.

ADDRESSING INTERNATIONAL LEGAL AND ETHICAL ISSUES

Reference University Of Phoenix. (2004). Addressing International Legal and Ethical Issues Simulation [Multimedia]. Retrieved from University Of Phoenix, LAW421 website. University of Phoenix. (2011). SYLLABUS School of Business. Retrieved from University of Phoenix, LAW421 website.