BY AURELIA MITCHELL DURANT Globalization has become a reality for the planet. The very loose and fluid definition of globalization is summed in an often-quoted quote by former Secretary-General of...
Originally posted 2012-07-19 18:15:29.
“KDBM Publishing” (a fictitous name) is a publishing firm based in the United States that is looking to expand its business overseas. Searching for a new country to do business in, various problems arose as to deciding where to expand towards. Some countries had different labor and environmental standards, while others had higher printing costs. These are common issues that arise while doing business globally. However, there are legal mechanisms that work at making doing business abroad more copacetic and uniform.
The laws and standards that work toward creating fundamental international business practices are known as international business law. Its functions are to increase global commercial interdependence. Having a unifying legal framework that governs international commercial transactions is beneficial in that it saves money by simplifying the costs of compliance.
The basics of international business law deal with protecting intellectual property, enforcing contracts, environmental protection, and labor standards. International business laws aim to create as much legal uniformity as possible so as to facilitate the movement of goods and labor across borders to cut standard business costs.
The adoption of international commercial legal standards is a progressive next step that means our economy, and others, are ready to become a part of a global community and share in the financial reward for doing so.
For more information about INTERNATIONAL INTELLECTUAL PROPERTY, contact the AMD Law Group at www.amdlawgroup.com or 800-605-0785.