WGU D080 Module 5: The Global Regulatory Environment, Global Business with 100% accurate solutions

antitrust laws

Consumer protection policy used to limit unfair business practices related to competition and control of prices'

Antitrust laws exist to safeguard the market from anticompetitive practices.

aka competition laws

See antitrust laws.

or antimonopoly laws

See antitrust laws.

.

Types of Antitrust Laws

Sherman Antitrust Act

1890 law banning any trust that restrained interstate trade or commerce, it dealt with limiting the power of price-controlling cartels

Many countries from several geographic regions are accused of dumping steel into the U.S. market at unfairly low prices.

Which entity can the United States appeal to in order to correct this apparent market manipulation?

World Trade Organization

The World Trade Organization is designed to judge potential market manipulations of its members. The United States has accused several countries around the world of dumping steel.

environmental laws

The Environmental Laws That Impact Global Business

Paris Agreement

Paris Agreement

he first legally binding, global climate deal. This agreement proposes concrete steps for keeping long-term global temperature increases below 2°C. The agreement was formally ratified in October 2016; however, 13 nations have yet to ratify, including some major emitters.

National Environmental Policy Act (NEPA)

American environmental act from the 1970s that requires federal agencies to prepare environmental impact statements for every recommendation or report

The most significant aspect of NEPA is its requirement that federal agencies prepare an environmental impact statement in every recommendation or report on proposals for legislation and whenever they undertake a major federal action that significantly affects environmental quality.

Environmental Protection Agency (EPA)

American agency established in the 1970s with the goal of monitoring the environmental practices of industry

Goals include improving access to clean water and enhancing people's preparedness for environmental emergency.

Deepwater Horizon Oil Spill

A 2010 industrial accident that is considered the largest oil spill in history

Oil Pollution Act of 1990

U.S. law that strengthened the Environmental Protection Agency's ability to prevent and respond to oil spills

allows those seeking damages to contact the company responsible for the spill to request compensation and pursue civil lawsuits. The same act also requires responsible companies to pay up to $1 billion for cleanup. BP has been accused of breaching environmental laws, as well as criminal offenses related to negligence and failure to protect wildlife. Many fishermen are also claiming loss of livelihood, and seafood restaurants are seeing a loss of customers.

The Clean Water Act

A US federal law governing water pollution

Koyoto Protocol

(international treaty not signed by the US) Controls global warming by setting greenhouse gas emissions targets for developed countries

The role of labor laws

Labor laws exist to protect workers from potential workplace dangers and abuses. Do companies have a responsibility to uphold these laws when operating in foreign countries with much less stringent regulations?

sweatshop

A factory that is guilty of some sort of labor abuse or violation such as unsafe working conditions, employment of children, mandatory overtime, unsafe working conditions, and so on

national labor committee

A nongovernmental organization involved in anti-sweatshop activities and the implementation of labor laws

International Labor Conventions

- Worst Forms of Child Labour Convention, 1999

- The Maritime Labour Convention (MLC), 2006

- Domestic Workers Convention, 2011

Domestic Workers Convention, 2011

Convention (2011) aimed at protecting domestic workers from abuse and exploitation

The Maritime Labour Convention (MLC), 2006

Convention (2006) that set out a bill of rights for all seafarers

Worst Forms of Child Labour Convention, 1999

Convention (1999) that aimed to eliminate all practices of child slavery or those similar to slavery

Which action is used by companies wishing to avoid working with vendors who use sweatshops?

Developing and imposing a company internal code of conduct for vendor labor practices

A major footwear brand company is contracting the manufacturing of its products to a contractor's manufacturing plant overseas. The footwear company has been accused of turning a blind eye to sweatshop practices at other overseas contract locations before.

How should the footwear company ensure that the contractor will comply with the standards set forth in the code of conduct that explicitly prohibit this practice?

Require that the factories be available for inspections

What did the Worst Forms of Child Labor Convention, 1999 define?

The age at which a person becomes an adult

Which convention protects decent working hours for a cruise ship director who travels in international waters?

Maritime Labor Convention, 2006

Contract Laws in Global Business

Contracts

A legally enforceable promise

When a legally enforceable promise is broken, the injured party can seek

damages

vertical structure of law

A structure of law where those at the top govern those at the bottom

In the United States, two primary sources of law govern contracts:

common law + Uniform Commercial Code

Uniform Commercial Code

A collection of laws that governs various types of business transactions.

horizontal structure of law

Structure of law where neither party is in a legally dominant position over the other

UN Convention on Contracts for the International Sale of Goods (CISG)

United Nations treaty that applies to the international sales of commercial goods

United Nations treaty that applies to the international sales of commercial goods

Spain rental laws

must be registered with the Catalan Tourism Register (RTC).

provide the government with RTC numbers.

How is contract law structured as it applies to global business among nations?

Horizontal

A horizontal business structure means that no nation is in a legally dominant position over another.

intellectual property (IP)

A work or invention that is the result of creativity to which one has rights and for which one may apply for a patent, copyright, or trademark

patent

Protects inventions and improvements to existing inventions for a limited period of time in exchange for detailed public disclosure of those inventions

trademark

Protection for any word, name, symbol, device, or any combination used in commerce to identify and distinguish the goods of one manufacturer or seller from goods manufactured or sold by others

copyright

Form of protection provided by the laws of the United States to the authors of "original works of authorship," including literary, dramatic, musical, artistic, and certain other intellectual works

trade secret

Intellectual property that is kept private

WIPO (World Intellectual Property Organization)

Established by the United Nations to implement global policy related to intellectual property

Which intellectual property right describes a chemical company's filing on their innovative industrial process invention?

patent

Which organization aims to develop a global intellectual property infrastructure?

WIPO

A WTO agreement that governs all IP laws and protects intellectual property rights for global businesses.

TRIPS (Trade-Related Aspects of Intellectual Property Rights)

intellectual property rights

The legal protections for creations of the minds

What is the agreement that the World Trade Organization has between its member nations that governs all intellectual property laws?

TRIPS