Why understanding legal environment is important for businesses going global?

Why understanding legal environment is important for businesses going global?

Expert Solution

understanding legal environment is important for businesses going global;

✓ a business that is expanding its business globally needs to consider the legal environment of each country, because, the law and regulations of those countries will impact the business and it's trading. Multiple governments interference, laws governing the operations, distribution and supply of goods, can impact the business to a greater extent. It is required to understand the policies, tax structure, exchange rates, and other requirements to be safe and expand the business with no legal issues.

Some countries may not allow certain products and it's production in their countries, some may have huge fees for getting licence, and to start the business by creating alliance with the companies already working in that country. So, it is required to understand the working, licensure, and tax structure to arrange the resources, and supply chain processes, In order to enter and succeed in various markets of the multiple Nations.

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keosha answered 3 months ago

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