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2)Must ask a lot of questions.“I’m sorry for giving you a hard time. I just want to do business together for the first time around.”3) Gotta figure out how you’re getting paid. You can’t assume someone is just going to pay you or that they’re going to pay you in U.S. Dollars. Have a contract and system set up.4) Available/Help/Educate yourselfabout international business law based on the business transaction/entity.International Patent Law:There is no “International” Patent.Patent rights are governed by the law of each nationBut you can file patents in multiple countries. The Patent Cooperation Treaty (PCT)Must file patent in a member country of PCT, then have 1 year to notify the patent is international, gets up to 30 months’ total to file application in member countries.International Sales Contracts:created in response to concerns of creditworthiness of the parties. International private sector merchants have over time devised a series of specialized but fairly standard techniques and legal devices that take the form of a series of side contacts that supplement the basic sales contractInternational Trade:any movement of goods, services, or capital across national boundaries. Includes three major components:1. Exportof goods, services, or commodities from one country to another2. Importof goods, services, or commodities into one county from another3. Foreign direct investmentsuch as the acquisition of interests in capital facilities in one country by investors from anotherThree sources of regulation:1. Procedures developed by the international trading community, intended to ease trading relations and foster the resolution of disputes2. Regulations developed by national governments designed to protect national trading interests and to make them more competitive in international markets3. Laws and standards for international trade relations established by international governmental organizationssuch as the UN and OECD, intended to harmonize trading community and national principles to eliminate trade abuses, and to develop a greater participation in world trade, especially on the part of those nations that form the developing world.ORGANIZING FOR INTERNATIONAL TRADEoThe GATT General Agreement on Tariffs and Trade25
goal to achieve a significant reduction of the general level of national tariffs and to provide an institutional framework within which future tariff conflicts could be resolvedoThe World Trade Organizationresolve tariff and non-tariff barrier disputes among signatory nationsoThe IMF and the IBRDInternational Money Fund-intended to coordinate activities of governments regarding international trade functions and does not primarily address the individual international traderInternational Bank for Reconstruction and Development-founded to assist in the reconstruction and development of territories of members by