Business Law Ch 7

Export Controls

-Export quotas, -Restrictions on technology exports -Incentives and subsidies

International Organizations

-Generally refers to an organization that is composed mainly of member nations and usually established by treaty -Adopt Standards -Create Uniform Rules

Manufacturing Abroad

-Licensing -Franchising -Investing in a Wholly-Owned Subsidiary or Joint Venture

Import Controls

-Prohibited Goods -Quotas and Tariffs. -Antidumping Duties

Exporting

-The sale of goods and services by domestic firms to buyers located in other countries -Agency Relationships -Distributorships

Treaties and International Agreements

-Treaties and other explicit agreements between or among foreign nations provide another important source of international law.

Exploration and Exploitation

-Under the U.N.'s Outer Space Treaty, outer space is declared to be free for exploration and use by all nations. -The moon, the planets, asteroids, and other celestial bodies are not subject to appropriation by any single nation -Space objects are to be used exclusively for peaceful purposes. -No weapons of mass destruction are permitted in outer space. -Each nation is responsible for its activities in outer space and is liable for damage caused by its space objects. -Each nation retains jurisdiction and control over its space objects and the personnel on them. -Space must be conducted so as to avoid "harmful contamination."

International Law

A body of law—formed as a result of international customs, treaties, and organizations—that governs relations among or between nations

Act of State Doctrine

A doctrine providing that the judicial branch of one country will not examine the validity of public acts committed by a recognized foreign government within its own territory.

Sovereignty

A nation is a sovereign entity and does not submit to a higher authority.

choice-of-law clause

Designates the applicable law

Expropriation

Government seizure of a privately owned business or personal property for a proper public purpose and with just compensation

Confiscation

Government seizure of a privately owned business or personal property for an illegal purpose or without an award of just compensation

Space Law

Law consisting of the international and national laws that govern activities in outer space.

Minimizing Trade Barriers

Restrictions on imports are also known as trade barriers. The elimination of trade barriers is sometimes seen as essential to the world's economic well-being. -European Union -NAFTA -CAFTA-DR -KORUS-FTA

US antitrust laws

Subject firms in foreign nations to their provisions or Protect foreign consumers and competitors from violations committed by U.S. citizens

International Tort Claims

The Alien Tort Statute (ATS) allows even foreign citizens to bring civil suits in U.S. courts for injuries caused by violations of international law or a treaty of the U.S

Article II of the Outer Space Treaty

bans the national appropriation of territory in space

International Customs

evidence of a general practice accepted as law

Commercial Space Launch Competitiveness Act

grants private citizens property rights over asteroid resources that they obtain from space

forum-selection clause

indicates what court, jurisdiction, or tribunal will decide any disputes arising under the contract

National Law

law of a particular nation

The Principle of Comity

principle by which one nation defers to and gives effect to the laws and judicial decrees of another nation. This recognition is based primarily on respect

Article IX of the Outer Space Treaty

prohibits interference with space activities

Article VIII of the Outer Space Treaty

provides that a state party to the treaty retains jurisdiction over objects on its space registry that are launched into space

Doctrine of Sovereign Immunity

the universally accepted principle that each nation has the right to manage its own government and develop its own laws. Some exceptions apply.