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Micropolitical risk - a political risk that only affects a certain industry or set of firms in a given country11.Macropolitical risk - a political risk that essentiallyaffects all businesses in a given country
12.Terrorism - involves unlawful arts or violence threatening the physical safety of others13.Terrorism Risk Insurance Act of 2002 - a United States law that after a certain deductible provides U.S. businesses government insurance coverage for the risk of terrorism14.Terrorism Risk Insurance Act of 2002 a United States law that after a certain deductible provides U.S. businesses government insurance coverage for the risk of terrorism15.Corruption - a situation where businesses are able to illegally alter relevant private and/or public decision making by way of bribes, kickbacks, blackmail, extortion, and related activities16.Private corruption - business corruption involving other private businesses, individuals, or groups17.Public corruption - the practice of making illegal payments to government officials or engaging in blackmail, extortion or other related activities to obtain government contracts or governmental approval for business activities18.Foreign Corrupt Practices Act (FCPA) - a United States law that prohibits U.S. companies from bribing or otherwise corrupting foreign governmentofficials to win foreign government contracts or obtain other foreign government assistance for their businesses19.Civil law legal system - a legal system based on acomprehensive listing of legal rules in sets of written codes of law
20.Common law legal system - a legal system wherelegislative bodies generally enact less specific legal rules giving judges or courts considerable authority in interpreting these rules based on precedent and other factors21.Theocratic law legal system - a legal system based on a religious document and religious teachings22.Criminal law - law that establishes which violations of a nation’s laws are crimes punishable by possible incarceration23.Contract Law - the body of law governing legally enforceable agreements between parties to engage in economic exchange24.Tax law - the body of law dealing with governmental levying of taxes on individuals and corporations25.Tax haven countries - countries with little or no tax transparency26.Antitrust laws - laws to promote “fair competition” among businesses27.Collusion - practice of companies acting in a manner which secretly thwarts competition amongst themselves28.Monopoly - situation where there is only a single seller of a product in an industry and there are very high barriers to enter this industry29.Product Safety law - the law which establishes the standards of product safety to which the manufacturers and sellers of products are to be held
30.Caveat emptor - “buyer beware”; involves placing the burden of determining product safety on consumers31.Caveat venditor - “seller beware”; involves placing on manufacturers or sellers of products theburden of making sure products are safe or at leastclearly and explicitly warning consumers about the