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Read the Addressing International Legal and Ethical Issues simulation located on the attachment, just to have idea and info regarding stimulation, but don’t use their words.
Write a 350-word summary. In your paper, answeingr the following questions:
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What are the issues involved in resolving legal disputes in international transactions?
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What are some practical considerations of taking legal action against a foreign business partner based in another country?
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What factors could work against CadMex’s decision to grant sublicensing agreements?
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When the local customs and laws conflict with the customs and laws of an organization operating abroad, which should prevail? Explain why.
How would you compare the issues in this simulation to the domestic legal issues discussed in your Week One readings? How should companies resolve domestic and international issues differently
Addressing Legal and Ethical Issue Simulation Analysis
In the Simulation completed on the student portal, the company CadMex markets its products in 127 countries around the world and is based in Florida. As the Vice-President of International Business Development, at CadMex Pharma, I am responsible for coordinating the contractual terms between CadMex Pharma and Gentura, a new company we are negotiating partnering up with.
To give a brief background on Gentura: biotechnology company based in Candore, and has recently developed ProPrez, which is a breakthrough anti-diabetes medication. This company does not have the abilities to develop ProPrez globally and has approached CadMex to begin partnership negotiations.
The country of Candore is a dictatorship and ran by President Gwendoz. In an international forum, resolving legal disputes over transactions that occur are handled with clear and concise deliberation. A process of handling any legal situation must be set into effect to prevent further misconceptions or problems. The main issue that could present itself in dealing resolving any legal disputes is the venue for the dispute. To have a meeting in the United States could be deemed unjust, due to the fact that the United States has no legal jurisdiction in Candore. Within Candore, the President has high influence and power over the governing body of the country. Whatever ruling that occurred within the United States court would not be valid in Candore, as they are not part of the World Trade Organization at this time and have no way to enforce these rulings. In dealing with Candore’s courts, which have had no experience with international laws and transactions, they have no basis to set precedents. The best methods to settle transaction disputes in Candore would be International Arbitration on neutral grounds with a company who is familiar with International transactions with outcomes that are binding. Stipulating a binding outcome will ensure that both sides of the dispute are willing to following the resolution because there is no other viable option.
The partnership is maturing nicely for CadMex’s and Gentura and now we have cross licensing contracts for several other drugs, including ViroBlax. ViroBlax was newly manufactured in Candore and is primarily used to treat viral infections. When a health epidemic erupted in Candore, ViroBlax was subsidized to other manufacturers. This action violated the payment terms of CadMex and Gentura. Legal actions must be taken against Gentura to ensure that the integrity of CadMex is upheld. When taking legal actions against a foreign business partner based in another country, we must consider three things: 1) Does starting a legal battle against a ravaged country make CadMex look like a giant who does not care about the moral welfare of the Candore people? 2) Will we recoup any losses if we win the legal action if the economy in Candore is suffering from making our payments and keeping up with the medical supply? 3) Will future investments with Candore still exist if we choose to take legal action against them in this time of crisis? Taking legal actions against Gentura is not in CadMex’s best interest so I have decided to take no legal action at this time and renegotiate the current contract.
CadMex decides to grant sublicensing agreements to keep up with the demand of the ill people of Candore, due to low supply. The following two factors that would work against sublicensing agreements for CadMex are: 1) Ensuring the product is produced with the same standards to allow quality to remain consistent would take time to set up new facilities and train employees. 2) With a generic drug set into production, would people still be willing to pay double the price for the authentic drug? The sublicensing option would remain the best plan to recoup our losses and assist with the health epidemic to show the citizens of Candore that CadMex is a compassionate company.
The newly formed GeneMex, a United States regulated research center, is based out of Candore. When local customs conflict with the laws and customs of an organization operating abroad a compromise must be reached. The customs and laws of the local nationals should prevail and polices should be put forth to accommodate their beliefs. To ensure a good working environment, we must respect their local customs and traditions. We are operating in their country, even though the business is endorsed by the Institute of American Research Regulations. To ensure we are able to remain in their country, we must show our ability to support their culture and beliefs. If an agreed upon accommodation cannot be met, then the local national citizens should be allowed to take personal time during the time they need for religious purposes.
The issues that have presented themselves within this simulation are different to the issues we discussed in the Week One readings. The simulation dealt more with international boundaries and ensuring that equality was occurring among each partner. The Domestic disputes in the readings had presidents that could be looked upon and compared too. Companies cannot resolve domestic and international problems with the same set of regulations. In a domestic dispute, the United States courts have jurisdiction within the entire country and the verdicts are upheld when issued. In an international dispute, the best way to resolve issues that arise is by having an action plan already in place to foresee any problems. While negotiating contracts, different policies will be set up to deal with transactions, legal disputes, property issues, and national customs. In a Domestic dispute, a similar action plan should be set up when the contracts are being negotiated to ensure that every party involved has a clear knowledge of the direction of the business transactions.
