week_3_slides - LEGAL SYSTEMS COMMON LAW CIVIL LAW...

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1 LEGAL SYSTEMS COMMON LAW CIVIL LAW THEOCRATIC LAW
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2 COMMON LAW A legal system based on tradition, precedent, custom and usage, and interpretation by the courts
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3 CIVIL LAW A legal system based on a detailed set of laws organized into a legal code
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4 THEOCRATIC LAW A legal system based on religious doctrine, precepts, and beliefs
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5 ISLAMIC LAW-SHARIAH The Koran The Sunnah The writings of Islamic scholars The consensus of Muslim legal communities
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6 INTELLECTUAL PROPERTY PROTECTION PATENTS COPYRIGHTS TRADEMARKS
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7 INTELLECTUAL PROPERTY PROTECTION Patents: grant the inventor of a product or process exclusive rights to the manufacture, use or sale of the invention Copyrights: exclusive legal rights of authors, composers, artists, and publishers to display their work Trademarks: designs and names which are officially registered to differentiate products
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8 PURPOSE of INTELLECTUAL PROPERTY To reward the originator, inventor, etc. for his or her idea and effort To provide a stimulus to innovation and creative work
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9 IMPACT of LAWS National Laws affect local business for home & host country National Laws affect cross- border business International treaties affect some cross-border transactions
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10 Key legal issues in international business Trade and investment regulation Intellectual property protection Financial flows regulation Taxation Reporting requirements Ownership regulation Contractual relationships International treaties Dispute resolution THE LEGAL ENVIRONMENT
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11 GNP / GNI The market value of final goods and services produced by domestically owned factors of production GDP The market value production that takes place within a country’s borders by domestic and foreign factors ECONOMIC TERMINOLOGY
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General Framework Economic Stability
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This note was uploaded on 09/09/2009 for the course I B 303 taught by Professor Welmon,vernismic during the Fall '07 term at Pennsylvania State University, University Park.

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week_3_slides - LEGAL SYSTEMS COMMON LAW CIVIL LAW...

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