Question

The global economy has changed the way we do business and made us all realize the importance of having at least a minimum understanding of international law. Briefly discuss key transactions and clauses which should be addressed before going into international business. Next, discuss your opinion of owning/running a business which does a substantial amount of international business. Submit your assignment.

Answer 1

Before going to any international business we need to concentrate mainly on few transactions and clauses

*The key transactions and clauses mainly depends on the country we are entering with our business.Few of them which are common we need to concentrate are

-Legal Rules and Regulations : Different countries has different rules we need to adhere to locate our business.Prior permission should be required amd rules and regulations should be adhered.

-Tax compliances: The tax rules are different basing on country to countryamd we should comply with those tax complications

-Transactions: In some countries the global countries should file certain forms before making any payments

-Juridiction :In case a company went into any disputes they should follow the rules relating to those locations which they operate

Opinion regarding in doing International business:

~Going gloablly removes trade barriers among the countries

~The company can get their resources at optimum cost

~It eliminates huge transportation cost.

~Any new product which found locally can be introduced internationally and everyone in the world can reap their benefits .

~Companies can expand their business beyond their capacity and get optimum utilisation of resources and they can produce the final product at cheaper cost by diversifying globally.