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Lecture6 - Multinational Laws WTO etc Laws You MUST Know...

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International Law Types of Legal Systems Common Law Law by precedent Common in English influenced countries Judge create laws through interpretation Very expensive – lots of lawyers Allows innovation Keeps people guessing Civil Law Codification of law Common in French influenced countries Judges apply existing codes Easy to know what the law is Innovation requires changes to law first Tends to slow the economy Religious Law Law based on religious standards Common in Middle East Religious system is ultimate judges Hard to know how actions will be interpreted Indigenous Law Law by “Elders” Lacks consistency Very open to interpretation and influence Against innovation Bureaucratic Law Decisions made by bureaucratic departments Can give contradictory answers
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Encourages bribery Completely stifles innovation Types of International Laws Bilateral - 2 nation agreement Regional Laws - NAFTA, EU etc.
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Unformatted text preview: Multinational Laws - WTO etc. Laws You MUST Know Ownership How much are you allowed to own? In what industries? What form can that ownership take? Taxes Does the nation favour or punish FDI? What method of taxing used? Value added? Income? Individual or Company? Form of Tariffs? What industries encouraged? Personnel and Labor Laws Unionization laws Mandatory benefits and wages Equal opportunity laws Worker safety Antitrust Laws Who are you allowed to associate with? What % of market can you hold? Property Protection Quality of patent, trademark protection Bribery Laws Is bribery customary? Foreign Corrupt Practices Act Marketing Restrictions Product type restrictions Restrictions on types of promotion Price controls Distribution channel limitations Environmental control laws Technology transfer laws Import/Export restrictions...
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Lecture6 - Multinational Laws WTO etc Laws You MUST Know...

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