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

Now a days business have gone global. globalization has almost effected every business as many business are gaining competitive advantage by international presence by way cheap labor available or more demand for their products abroad but we should know the international law

Every business must respect the laws of land in which it operates

first we should know the legality of our business.Business which may be legal in one country may be illegal in another country

and laws will be different like taxation laws and employee protection like (industry acts, basic pay) we should have better understanding on these laws to survive and not to face any legal consequence

In my opinion running an business which has substantial international exposure needs lot of caution as we have to manage laws of different they should have due monitoring and needs better understanding to get the benfit of operating globally