BLAW EXAM 2

Patents

Hardest intellectual application to get. Very hard to get. You have to prove: -You invented it -it has to work - it has to be an invention. It is not obvious. This is a judgement call. ( this is the hardest thing to show) when submitting an application, they conduct a search to make sure you actually created it and it was not a subset from another idea or thing, Patents are issued for 20 years, after 20 years you can take it and will owe no money. It is not less and not more anywhere in the world. Patents only apply within the territory of the state granting the patent. The biggest area of international controversy: Can not be patented anywhere in the world: - Discoveries, scientific theory or mathematical methods Can only be patented only in the U.S.: -software and computer programs if it is inventive enough (if given a patent and copyright, it holds a stonger infringement when someone else is trying to copy it and just changing a few things. This is only if it is inventive enough) -GMO: (Honeycrisp apples example, take an apple and modify it in a lab and can get a patent since it is not a normal apple and you changed it) -Business methods:

FDI related dispute

ICSID : if dispute is not related to foreign investment do not suggest ICSID.

transaction value

the price actually paid or payable for goods when sold for export

General Exceptions allowed to avoid obligations under GATT 1994

-Protect public morals -necessary to protect human, animal or plant life or health -Relate to the export or import of gold or silver -Relate to products of prison labor -Protect national artistic, historic, or archeological treasures -Conserve exhaustible natural resources. Ex: US had a ban on trading petroleum oil. -restrict exports of domestic material used by domestic producers during a period where the domestic price of such products is held lower than world prices as part of a government stabilization plan -are essential to acquiring products in short supply

Bad Escape Clause

A safeguard is put into place but is not needed.

Business Type:

Agency: Incredibly popular in sales, benefits both parties. Don't compensate them unless they make sales for, then give them commission. Best for testing the waters. The agent is not liable for anything that goes wrong as long as they do 3 things, always disclose that they are an agent, if you pretend you are the principal you are held liable. Second, You are generally working under contract with spells out your authority. You must work under the written agreement written with the principal. If disobeyed you will get sued by the principal. Third, Agents are the Fiduciary, the highest degree of financial trust. Do not screw over the principal ever. you can not represent my competitor unless I say it is okay. If something goes wrong they have to go after the principal. You want an agent because they are independent. they are not your employee, you are just testing the waters, you do not want to be too involved in china. If you tell someone what to do, when to do it, how to do it they are an employee. do not control your agent too much. Licensing: A way of getting more involved. you do not want just an agent in china, you want a full on distribution in china. More of a permanent presence. Joint Venture: I have a solid company but I have no idea where to go in china and all the different parts on china, and you get together with another company. Marry Someone and have a baby. A foreign partner ties up with a local partner and do business together. Risk: 50% of joint venture fail. Key legal things: Get to know your partner well before you get married, make sure you have the same expectations, make sure you have the same plans. if you get into a fight you are deadlock, if possible try to structure joint venture so in case of deadlock one company gets 50.00001 of the company and the other get 50.0001. Representative Office: an office of the parent company. staffed by foreign employees, serves as a contract point of sales or other information about the parent company good or services. Can do this one of two way: Branch: big office, unit of your parent company. Parent is always on the hook for the liabilities of the branch. Never want this. Subsidiary: Most favored of international expansion. Separate corporation set up in a foreign country Corporation has limited liability. there is a wall between the parent and the sub. They are only liable for the money they put in or what they invested in the Sub. Big tax advantage. if the local sub is profitable it will pay out dividends to the parent. You do not pay any income tax until it is remitted to the United States. Huge tax advantage. Avoid liability in the parent company. Holding Company: you have a parent and the parent is doing no business, the only business of the parent is to own a bunch of subs, and the subs are the ones doing all the business. the parent is the mothership.

GSP

Aids certain developing countries by allowing their product to enter the U.S. at reduce tariffs opt tariff free until such times as these countries establish their own competitive economies. SOME ProDUCTS FROM SOME COUNTIRES

Buybacks

An arrangement where an exporter provides equipments which the buyers uses to produce goods then proceeds of the sale of which are used to pay the seller for the equipment

Escape Clause

BIGGEST WEAKNESS OF GATT members may avoid its obligations under GATT 1994by invoking Escape clause and by imposing safeguards.(calls time out). then emergency restrictive trade measures. Conditions for imposing safeguards: -Unforeseen developments -there are increased quantities of an import product -they are causing or treating to cause serious injury to domestic producers of like or directly competitive products. EX: China shipping in towels, sock, boxers and beating prices of the Turkish one in Turkey. Turkey towels, boxers and sock companies imposed a safeguard, limiting the amount of goods coming in the Turkey so that the domestic producers do not go bankrupt and get killed by Chinese companies.

What agreement deals with what

Berne convention: dealt with copyrights Paris convention - patents Madrid agreement: deals with trademarks ¨ allows trademark owners to register their trademarks in any member country by filing one application directly with their own national or regional trademark offices. Patent cooperation treaty: established to provide patent protection in all member states upon granting of a patent in one member state. ( one application) all these are a country to country basis.

What happens if intellectual property is stolen?

Do nothing ( Ralph Lauren example, guy selling fake polo shirts, he is not stealing from Ralph Lauren since the people know it is fake and that is why they are buying it. The only way they are robbing you if it they advertise that is real and the people think they are just getting a little discounted price. ) Are the fakery is truly improving sales as it is free advertisement and also gets your name out there for people who do not know of your luxury company. -pursuing legal action may be a waste Trademarks: DO nothing Copyrights: The most ripped off intellectual property. Start charging a reasonable price and more people will buy it from you. If the price is too high the customers will go somewhere else and illegally get it.

EU TRADE

EU has free trade agreements with many countries and goods, services capital and people move freely throughout member countries.

You have to pay tariff on the full value of the product. Ex: Bangladesh sewing sending invoice to Gap, Gap bought the denim from another country not Bangladesh.

Exam Question

How do you import stuff into the US?

Formal Entry: You are only allowed to import that is a permitted "port of entry". You can not get your items, until after customs inspections and release it to you. You must pay your tariffs. Your formal entry has been liquidated. (You are good to go) If additional duties are owed, you must pay them. The following documents must be filed with customs at port of entry. Entry Manifest or Merchandise release form Customs entry Summary Form Bill of Lading packing list to identify the contents of packages/boxes etc. Certificate of Orgin Commercial Invoice: Need to know the value, charge tariffs on the value of the goods. Invoice must say and include: -in English - signed by the seller -name of port of shipment - name of port of entry - common/trade name for goods -description of the goods - country of origin - currency of payment - quantity/weight of goods shipped - value of the goods accurately stated including a breakdown of itemized charges, e.g., freight, insurance, taxes etc. DO NOT MESS IT UP! DO NOT LIE! Small things can be allowed through the postal service, you pay tariffs to the postal service.

INSurance

GET IT! best ways of lowering your risk. Insurance is a contract, to make you whole and fix the problem for the risks you are purchasing coverage for. Property insurance: insure property, building. Causality insurance: employee insurance special business risk insurance Generally go to private companies. OPIC is a government agency, which provides insurance coverage for companies investing aboard. If you are doing something to help America, OPIC might write you a policy that a private company will not.

GATT

General Agreement on Tariffs and Trade: Treaty Every major or minor country has signed GATT 1994 Besides North Korea We are trying to get to the point of no tariffs on any imported goods and become free trade. Have been meeting in rounds, since WW2. :Last meeting that was efficient was in 1994. During this they came up with a successful set of rules that are still in place today. Rules GATT 1994 Uruguay: Basic Principles 1.) Most Favored Nation: MFN: Every country in the world is MFN. Any tariff you decide to charge you must apply those tariffs rules to all other countries. Ex: If Brazil is charged 8%, then Japan is also charged 8%. 2.) National Treatment Rule: Once stuff in is your country treat it the same as domestic goods. One Exception: Buying for government purposes. EX: Note Card 7 3.)Transparent: Any rules or regulation that restrict imports must be readily available for any that wants to see them. 4.)Tariff: They need to be charged at the time or point of importation. When the stuff crosses the border. Not later or not earlier. Extra Tariffs for punishment of Antidumping duties: Extra tariffs to punish for dumping.....Ex: Selling for less than you are in your home market. Tv in Japan tv cost $100, then you sell in US for $50. Countervailing Duties: To punish improper subsidies. Subsidy is government giving you money. ON Exam: Red Subsidy. Government is paying for export, then slap on tariff for what the government is paying them.

Drawbacks

Get a refund on the way out for what you paid on the way in. ENGINe comes from Germany but the car Is manufactured in Alabama and then once a car is shipped to Brazil. You get the tariff back when you ship the item to Brazil.

Criminal Law

Giving and Taking a bribe is illegal in every country. How do you deal with this? Pro: Efficient win-win Cons: Regressive risky- illegal Disrespect Cultural Issue : OECD convention which prohibits bribing, but it useless because it is not being enforced. The worst violators of bribing are the squeaky clean countries like Sweden, but they are the biggest bribers around the world. The only country in the whole entire world trying to do something about it is the untied states. There is a law called FCPA, Carter pushed it. requires companies doing business abroad to account for and record all transactions and ensure that such transactions are properly authorized by the company. If you are a US citizen or company, you are bribing in Nigeria, you are breaking the law in Nigeria but also in the US and you are able to go to federal prison because of that. Even if you never left the country for the bribe. FCPA, it is tough but it is reasonable. You can not bribe for obtaining or retaining business. Punishes high level bribery. IT would be like a high Level person for an oil contract, the FCPA does not apply for performant of a routine on discretionary governmental action, "Greece Payment method" His train ticket story was just to speed things up. the container will get cleared, he is just bribing so that it take 5 minutes to get the container rather than a week. Will-full ignorance is not a defense. You are liable.

Labor Laws of every country apply to every person working in that country.

If working in turkey you are subject to Turkish labor law, no matter where your Visa is from. One Exception: US laws against discrimination do apply to US citizen working for US companies. If working in Germany, you are under Germany employment law, but as an American working for American company you have to follow US discrimination law.

Making money off intellectual property

If you have intellectual property how do you make money off of it: You directly exploit the rights. ( Your invention, make the product, sell it) Selling or transferring the rights to another party Licensing: renting your intellectual property. allowing a third party to use the intellectual property that is subject of the license for a specific period of time and purpose with all the rights maintained by the owner of the property. Rent of the property is called royalties Different types of licensing: Cross licensing: Wholesale exchange of licenses among two or more parties (Microsoft saying you can use 10,000 of our patents if we can use 10,000 of yours patents. Rather than suing each other. Franchise: Sole rights: you are the only one in the whole planet who can open a McDonalds. Exclusive: No one else can open a Jimmy johns in Croatia. Excluding all licenses in a geographical area. NOn exclusive: Excluding no one and reserving the rights to grant other licenses and the privilege to work the rights.

International business etiquette

Importance: Extremely important. Business is quite social, so if you want to do business in other countries be aware of other peoples customs Americans have a bad reputation of being ignorant and being better than others. people do not do business with people they do not like. if traveling and doing business in other countries read up a little bit. What you wear, what time you show up, what you say.

IMF (International Monetary Fund)

International you have a huge problem. how are you paying for it? what currency? International monetary system: adopted set of rules and procedures governing international currency exchange and is overseen by the International Monetary Fund. IMF Become a member of the IMF by paying your dues, (quota subscription) based on a very complex formula more so the size of the members state economy. Richer countries pay more, poorer countries pay less. The readjust you dues every 5 years. IMF is organized by a club. Board of governor, have a executive board- Richer countries have heavier power. What is the benefit of joining? 1.) Currency Exchange: you promise as a condition of joining the club, you will exchange your currency with every member of the clubs currency. At what value do you exchange? -pegging it to another states currency. -Pegging it to currency baskets -Allowing it to float: worth what anyone else wants to pay for it, floating on a exchange. freely traded Current international transactions: normal business Only time they don't exchange is when it is not normal business 2.) Currency Support the IMF serves as a short-term lender to member states having difficulty meeting balance of payment obligations in times of crisis the IMF will come in and support. They have all kinds of money piled up in a bank. The IMF comes in and shovels billions and billions to try and rescue the country in crisis. Money comes mostly from the quota subscriptions but also is allowed to take out loans. -The help does not come with no string attached. (Conditionality). When the IMF steps in to support they often impose certain conditions. 3.) Advice: IMF Repeatedly worried about the United Stated, we are protected because the dollar is still the worlds reserve currency. But that may not last forever.

Tort Law

Involving an act that brings harm to a person or damage to property. They can come after you for money.

US Customs and Border Protection

Largest federal law enforcement agency of the United States Department of Homeland Security . The importation of goods is overseas by U.S. Customs

Labor Laws

Laws which regulated how workers could be paid and treated This law varies the most around the world. Quite different in different places around the world In some countries, laws are extremely employer friendly aka US. Some countries are employee friendly, aka India. EMPLOYER FRIENDLY: employees has no legal right in management Have no guarantee of paid vacation no paid maternity leave employee can be fired at any time labor unions are weak EMPLOYEE FRIENDLY: it is impossible to fire an employee labor unions are extremely powerful This is a horrible thing, no one wants to hire anyone because if you hire them you can never get rid of them. In countries like this they hire people illegally, unofficial work. They are working but they are not working as employees. Under the table. If you hire illegally you are not subjected to give them anything, therefore they are usually the worst working conditions. Child labor, hazardous working conditions etc.

Why should a business enter into a licensing agreement as opposed to working the intellectual property rights by itself?[1]

Let the local person, and let the local person deal with it.

Risk Involving licenses

Loss control over the property being licensed out. Ex: Papa Johns in Russia, not being able to shut them down due to the stores in Russia being franchised by Russian citizens. Licensee can steal you intellectual property. Licensee will get good at whatever you are doing and You created a competition. Ex: GM and Chery car example.

Production Assist

Must be added production assist to the value of the good

Environmental Law

No as juristically as labor law, but does vary around the world. wealthy and developed countries have strict environmental regulations. "North" Poorer and developing countries are more environmentally related and polluted. "South"

National Treatment Rule

Only apply them at the border, once the good is in your country you can not treat them any different than domestic goods. Except: you are allowed to discriminate in favor of domestic products in the procurement of goods used for governmental purposes by government agencies. EX: Police dept. say they are getting new cruisers, do not submit a bid unless you are a US manufacture.

Travel and Immigration

Passport: You do not have the legal right to a passport, if the state department does not like you or thinks you are threat, they can deny you. VISA: Documents issued by host states allowing foreign citizens to enter a host state. Americans need Visa to enter some countries. Do not have the right to a VISA. Visa will govern what you do in a foreign country.

301 penalty tariffs

Penalty tariffs than can apply to U.s imports under section 301 which allows us trade representatives to take retaliatory against another countries whose trade policies towards the U.S are unreasonable or discriminatory

Compulsory License

Pharmaceuticals and Medicine: Drug that saved people for $70 then someone bought the company and then sold the drug for $70,000. Which is absurd and price gauging so government allows another company to make it to get the price down. when a government allows someone else to produce the patented product or process without the consent of the patent owner.

Depository Receipts

Represent ownership in a foreign firm and are traded in other countries' markets at the local currency; A bank deposits shares of the foreign firm and then sells receipts representing ownership of a specific number of foreign shares; Depository bank acts as a custodian and manages stock events such as splits and dividends; Although conversion is not necessary, changes in exchange rates affect price; Sponsored DR is if the firm is involved with the issue

Nationalization and Expropriation

Robbery Expropriation:Government taking a piece of particular piece of property and merits full compensation at fair market value. Nationalization: is the government taking of an entire industry or natural resource as a part of a plan to restructure the nations economic system. Under modern traditional view. Nationalization must be for: -Public purpose -non-discriminatory, not directed against foreigners in general or particular foreign company in particular Creeping Expropriation: Don't out right take the stuff, but make your life miserable. Impose discriminatory taxes, regulations, price controls, license cancellations to make the property worthless. How do you deal with it? Get them to promise they won't do it. MAKE Sure they have ICSID signed. This means they have to be reimbursed for the property they have taken. ¨ ICSID sets forth rules and procedures for arbitration (please see International Dispute Resolution section for details) ¨ be very careful of any strange local laws which may affect arbitration, e.g., § some countries require both parties to agree to submit the dispute to arbitration, obviously then one recalcitrant party can block dispute settlement, e.g., Argentina § some countries refuse to recognize foreign arbitral awards when the governing law of the contract is that country's domestic law, e.g., India § some countries reserve the right to have their judiciary review "unreasonable" arbitral awards, e.g., Argentina They have to pay you.

Major terms of contracts for intellectual property internationally

Services and intellectual property contacts are very difficult. -Clear, what rights are you licensing. Ex: Song being used for advertising. If you don't like it or want it to be used for something put it in you contract. -What improvements are the licensee allowed to make, if they make improvements who owns the rights to them, Grant Back Provisions. -Reverse engineering, is it prohibited or not prohibited. -What are you allowed to do, Exclusive or non exclusive -Territorial Restriction Ex: Turkey company got exclusive license in Istanbul, but Istanbul is known as a city, and a province. Be specific on where you are giving them exclusive rights to. La Crosse, the city or the county? -Duration: How long? -Termination: This is where Papa Johns should have put this into their contracts

Do not pay tariff on

Shipping, insurance. If it is DDP, you subtract freight, subtract insurance and subtract tariffs.

Free Trade Zones

Stuff goes in pay no tariff, stuff that goes out pay tariff.

Rules of Origin:

Substantial transformation rule Tariff shift rule- NAFTA

TBT agreements

TBT Agreement: Agreement on technical barriers to trade. standards should be based on legitimate objectives, be drafted in terms of performance rather than design, and not create an unnecessary obstacle to trade. Governs the use of technical regulations, product standards, testing, certifications.

International trade in intellectual property

TRIPS: allowed countries to crack down more to enforce the intellectual property rights. all applies: § the most-favored nation rule § the national treatment rule § transparency

Different types of import trade barrier

Tariffs Embargoes: complete ban Quotas: quantitive restrictions Advantages: Work quickly Disadvantages: may require costly record-keeping

Tariffs

Taxes on imported goods

Mercosur

The customs union composed of Argentina, Brazil, Paraguay and Uruguay.

Free Trade Zones

The government will take a huge patch of land and fence it. and invited businesses to put a factory inside. anything inside the free trade zone is free of tariffs as long as the finish product is getting shipped back out. YOU CAN NOT CONSUME OR RESELL THESE ITMES, THOSE ITEMS MUST HAVE A TARIFF. Wildly popular Convenient close to us port of entry

How do these countries go about foreign investment and what laws do they have.

They often require that before you invest you have to register with the government and get permission. They will screen you proposal. They will ask you for full details. Are you going to be creating jobs? Jobs for us? Do we get valuable intellectual property? are you going to be hurting any domestic producer? Are you going to share ownership? Most common of way of playing the game: Limited Equity and comply sector by sector. Reserve certain sectors of the economy exclusively to the state or its national domestic companies. (Closed Sector). Most common way countries restrict sectors. Airlines and Media are closed sectors in the United States.

Made in USA.

Very agro about this. US CUSTOMS RULES You can not say made in USA, unless every single molecule is Made in the USA. EVERYTHING!! You can say assembled in the USA, but not made in the USA.

Why was the WTO created?

Weaknesses on GATT:Reason WTO was created - Permanent location -General agreement of traded GOODS, no agreement on services or intellectual property. -NO way to dissolve disputes.

Free Trade Areas

When a group of countries have removed tariffs and quotas between themselves, while retaining the right to set tariffs/quotas towards non-members. EX: CANADA and MEXICO to USA.

The basic rule

Where the the thing become a thing. NAFTA: The tariff shift rule: all non North American components changes number when it is incorporated in to the final product. Then there is no tariff on the product. EX: Truck ensembles in Mexico, tires coming from Nigeria with code 356486.39 and the truck then gets assembled and get code 789543.12. then it is allowed in the free trade agreement.

Common markets

Where there is a customs union plus complete economic integration among member states, free movement of goods, services, capital, etc. Only one common market in the world, EU.

Binding Rule

You can read and sort of rely on it, but a binding rule only applies to the person it was made for.m

World Trade Organization (WTO)

a permanent global institution to promote international trade and to settle international trade disputes. Deals withs GATT 1994: Goods Gatts: Services Trips: Intelectual property Incorporated GATT into the WTO. And added agreement for Services and intellectual property. They also Added dispute settlement. Also came up with additional agreements : TBT Agreement: Agreement on technical barriers to trade. standards should be based on legitimate objectives, be drafted in terms of performance rather than design, and not create an unnecessary obstacle to trade. Governs the use of technical regulations, product standards, testing, certifications.

Agreement on Agriculture

agricultural products and trade remain the most contentiously protected industry with the least free international trade. BIGGEST AREA OF CONTENTION. -Cut subsidies and other government supports to farmers -Eliminate subsidized exports of farm products -Provide greater market access for farm products by converting quotas and other non-tariffs barriers into tariffs.

Offset

an arrangement whereby a government buyer of high priced items, arranges for the seller of such goods to purchase other goods from the buyer to offset the negative effect on the buyers state

substantial transformation

basic rule: Something is from the country in which it became a thing. EX: Shirt became a shirt in China, the sleeve doesn't make a shirt from Jamaica.

Dispute Resolution

being here is a failure. it is going to take time, energy, stress. Not to fail and start arguing with people. Best way for resolving: 1.) Not have one 2.) Negotiation: talk it out, talk it cheap/ free, Be reasonable, 3.) Mediation: get a third party involved. Pretty useless, not binding. you do not have to follow it, it is voluntary. 4.) Arbitration: The Way to resolve an international dispute. The way to go. 5.) Litigation: Only time litigation will work is if you agree where. if you have a fight we will resolve this in La crosse circuit court. if you sue him there you may have a chance to get it enforced in China, He agreed to it, therefore it is fair. otherwise you are screwed. If your dispute involves property, you generally have to go to court in the country the property is located.

ASSembly plant tariffs

complete opposite of free trade zones. Assembly plants along side the border. GMC: PLANT IN MEXICO TO TAKE ADVANTAGE OF CHEAP LABOR, ANY PART MADE IN THE US DOES NOT HAVE TO PAY A TARIFF WHEN IT COMES BACK TO THE US, PAY ON THE VALUE OF THE ASSEMBLED ARTICLE MINUS THE VALUE OF US MADE COMPONENTS PARTS.

Copyrights

copyrights:(artistic type things, easiest to get. if you are the creator you get a temporary monopoly on making money) intIdeas get no protection. You have to do something with your idea. ( the moment you take that idea and make it a thing, picking up a microphone and recording, writing a book) International standards: every country protects copyrights for the lifetime of the creator and at least 50 years after. (personal) If copyright is owned by a company or legal entity it lasts for 50 years from the date of publication.

Customs Union

eliminates trade barriers between member countries and adopts a common external trade policy.

If your dispute involves property, you generally have to go to court in the country the property is located.

exam question

Customs Unions

free-trade areas in which the countries also adopt identical tariffs between themselves and the rest of the world

gray market goods

goods not intended for sale in the country in which they are being sold, often with an invalid warranty. If you have different pricing strategies in different countries, buy the goods from the cheaper countries and sell them in another country for a higher priced market.

WTO

have a way to resolve these disputes. A dispute that rises under any of these GATTS< TRIPS ETC. they can help you. But only if rises under these agreements.

intellectual property

intangible creative work that is embodied in physical form and includes copyrights, trademarks, and patents

competition law

law that promotes or seeks to maintain market competition by regulating anti-competitive conduct by companies. in the United States it is called anti trust law. Jist of the rule: two or more competitions can not enter into agreement on join activities that prevent or restrain from competing. Price fixing is illegal, two or more competitors can not fix prices. Final Exam Question. Can not join together to change prices, can not do anything that skues competition. But you can do it if you get an exemption in advance. you are not doing it for abad reason to fix competition, they are doing it for a good reason to ask for exemption to do it. Do it in advance, do not do it and then get caught. Dealing with businesses that have a dominant position. being dominant is not a crime, but don't be dominant and be a bully, that is a crime. For example, google being in big trouble in the EU. Be dominant but don't be a bully. Competition law regulates mergers and acquisitions. Don't want you to become dominant by merging companies to become dominant, A:30 B:25 C:20 D:25 but A and B merge, becoming the most dominant in their industry. That's cheating. Price fixing in America you will go to jail. In America if you have been hurt by competitor law, you can sue. In the EU the government has to go after the violator you as a private person can not.

trade secrets

not like the other 3 intellectual property protection. as long as it is kept secret it it can last forever. want it to last longer than 20 years. the only way someone can take a trade secret besides blabbing is if someone steals it but then you can go after them.

Arms Export Control Act

prohibits the export of specific weapons. Requires license always look it up in the commerce control list. You may not be sure if the item can be used for something else or if that item can not be sent to that destination. if violated you will got to jail.

Trademarks

protects Brands: Commercial symbol Pretty easy to get trademark. By international minimum trademarks last for 7 years, and many countries it is more, but you can generally renew it forever as long as you are using it. If you are not using it someone can just take it.

trims

the Agreement on Trade Related Investment Measures which are national rules or regulations on foreign investment that have an effect on trade in goods. TRIMS prohibits -trade balancing requirements, i.e., tying companies' right to import based on the amount of their exports -local content requirements -conditioning receipt of foreign exchange on companies' foreign exchange revenue

SPS Agreement

the Agreement on the Application of Sanitary and Phytosanitary Measures SPS measures are government rules and regulations that protect food, animal and plant safety and health, e.g., prevent spread of pests, disease etc. - under the agreement, SPS measures - may not be more trade-restrictive than required or a disguised trade restriction -may only be applied to the extent necessary for the protection of human, animal or plant life -must be based on a risk assessment made according to scientific principles and evidence - may not unjustifiably discriminate between countries where similar threatening conditions prevail -that involve inspections/controls must be fair, reasonable and instituted without delay

International Court of Justice

will never help you, will never help in private petty ass business disputes. only deals with Ukraine war, extricates to resolve disputes between two countries.