Chapter 25
CH. 25: INTERNATIONAL LAW AND GLOBAL COMMERCE
LAW 231: LEGAL ENVIRONMENT OF BUSINESS, Missouri State University
Page 1: Introduction to International Law and Commerce
Overview of the scope of international law and its significance in global commerce.
Page 2: Definition, Sources, and Systems of International Law
Definition of International Law: A body of rules and principles binding on countries, international organizations, and individuals in their interactions.
Nature of International Law: Wider than just court disputes; it governs relations on multiple levels.
Page 3: Public Law vs Private Law
Public International Law: Governs the relationships between countries and international organizations.
Private International Law: Focuses on private individuals and business entities' regulations and rights.
Page 4: Sources of International Law
Treaties: Formal agreements between states or international entities.
Customs: Established practices that have evolved over time and are accepted as law.
Judicial Decisions: Previous court rulings that guide future cases in international law.
Page 5: Comity in International Law
Definition of Comity: A principle where nations respect each other’s laws and court decisions.
Not a Legal Doctrine: Comity is rooted in reciprocity and respect, not a formal requirement of law.
Page 6: International Organizations
United Nations: Formed post-WWII to promote international cooperation on defense, trade, and human rights.
World Trade Organization (WTO): Oversees and resolves trade disputes, focusing on barriers affecting trade.
Page 7: More International Organizations
International Monetary Fund (IMF): Aims to stabilize world currencies and provide financial support to prevent national economic collapse.
OECD: Works towards aiding developing nations and combatting corruption.
Page 8: International Courts
International Court of Justice (ICJ): UN's judicial branch resolving disputes and providing advisory opinions based in the Netherlands.
Page 9: European Court of Justice
Function: Final authority on legal matters affecting EU member states, situated in Luxembourg.
Page 10: Sovereign Immunity
Definition: Doctrine asserting that foreign nations typically cannot be sued in U.S. courts.
Page 11: Foreign Sovereign Immunities Act (FSIA)
Legal Framework of FSIA: Limits U.S. courts' jurisdiction over foreign nations with certain exceptions:
Immunity waiver by the foreign nation.
The foreign nation engaging in business activities on U.S. soil.
Foreign actions impacting U.S. interests directly.
Page 12: Legal Systems of Nations
Civil Law: Focus on written statutes; limited judicial gap-filling.
Common Law: Emphasizes court precedent and case law.
Religious-Based Law: Legal systems based on religious doctrines.
Mixed Legal Systems: Hybrid systems incorporating elements of various legal traditions.
Page 13: Arbitration in International Context
International vs Domestic Arbitration: One major difference is the enforceability of international arbitration awards, recognized globally.
Arbitral Award Enforcement: Governed by the Convention on the Recognition and Enforcement of Foreign Arbitral Awards.
Page 14: International Arbitration Forums
Notable Institutions:
ICC: International Court of Arbitration, Paris.
LCIA: London Court of International Arbitration.
AAA: American Arbitration Association.
Page 15: Alternatives to ICC - WIPO
World Intellectual Property Organization (WIPO): Focused on arbitration for intellectual property disputes, including patents and trademarks.
Page 16: International Mediation
Nature of Mediation: Involves consensual processes often supported by neutral parties; also known as third-party-assisted negotiation.
Page 17: Foreign Corrupt Practices Act (FCPA)
Purpose of FCPA: Aimed at preventing bribery of foreign officials by American corporations.
Requirements for Corporations: Accurate record-keeping and responsible internal accounting systems.
Page 18: Enforcing Intellectual Property Rights Abroad
Challenges: While many nations improve IP rights, enforcement remains difficult, especially when agreements are voluntary and subject to governmental discretion.
Page 19: Comprehensive Agreements - TRIPS
TRIPS Agreement: Sets minimum standards for intellectual property protection and outlines enforcement mechanisms.
Page 20: Agreements on Trademarks
Madrid Protocol: Provides a streamlined process for multinational trademark protection, alleviating burdens on companies.
Page 21: Agreement on Copyrights
Berne Convention: Requires reciprocal protection of copyright laws for foreign nationals from member countries.
Page 22: Agreement on Patents
Paris Convention: Ensures member countries protect patent rights equally for foreign inventors as for domestic ones.