Bus Comm Final
Principle of Comity
that a country will honor and enforce within its own territory the judgments and decisions of forging courts with certain limitation.
Arbitration
the process by which both parties to a conflict agree to submit their cases to a private individual or body whose decision they will honor.
technology transfer
the transmittal of technology from one country to another
Confiscation
when no compensation is provided
Expropriation
when the host government compensates the private owners for their losses
What are the BRIC countries?
Brazil, Russia, India, and China
Embargos
A comprehensive sanction against all commerce with a giving country
accounting reserves
Accounts created in a firms financial reports to record foreseeable future expenses that might affect its operations.
Religious Law
Based on rules governing the faith and practices of a particular religion this is called a theocracy.
Common law
Based on the cumulative wisdom of judges decisions on individual cases
Repatriation
Being able to return to the home country
Nationalization
Changing something from private to state ownership or control
Extraterritoriality
Countries may also attempt to regulate business activities that are conducted outside their borders
Which of the following describes a difference between international and domestic business
Domestic business involves transactions that use one currency; international business involves transactions that use multiple currencies
A country whose recent growth or prospects for future growth exceed that of traditional markets is known as which of the following?
Emerging market
ABC Medical Products acquires 51 percent of XYZ Productos Medicos, a Mexican corporation. Which of the following is this an example of?
Foreign direct investment (FDI)
Walmart is based in the US. Walmart opens a store in Alberta, Canada. Which if the following best describes Canada's relationship with Walmart
Host country
Buying products made in other countries for use or resale in one's own country is known as which of the following?
Importing
Which of the following is TRUE regarding international business expansion?
International business expansion has led to an expansion of business activity into new markets previously insulated from the international marketplace.
Which of the following describes a primary difference between international licensing and international franchising?
International licensing involves only intellectual property such as patents, trademarks, brand names, and copyrights; international franchising involves operating systems as well.
Jose's company agrees to operate facilities for a firm in another country for an agreed-upon fee. This is an example of which of the following?
International management contract
The firm in which country pioneered just-in-time inventory management techniques
Japan
Keiretsu
Japanese industries that are controlled by large families of interrelated companies that are typically centered around a Japanese bank
Which of the following BEST describes the difference between merchandise import and service import?
Merchandise import involves purchasing tangible items from a foreign company; service import involves purchasing intangible products from a foreign company.
Export control of dual-use products
Products that can be used for both civil and military used.
Privatization
State-owned to private owned
Which of the following saved the Lee Hung Fat Garment Factory between 15 and 20 percent in design costs?
Technology
Which of the following is false regarding emerging markets
There is a universally accepted definition of the countries to be include in the emerging market category
Foreign Sovereign Immunities Act
U.S firms are generally beyond the jurisdictions of U.S courts
Bureaucratic Law
Whatever the country's bureaucrats says it is.
MITI Stands for...
Who are the four tigers and why are they important
forum shopping
a practice whereby the plaintiff chooses a court in which to sue because he or she believes the court will rule in the plaintiff's favor
Civil Law
bases on a detailed listing or what is and is not permissible
Sanctions
restraints against commerce with that country