18 Pages
4533 Words
Introduction Of International Business Law Assignment
At New Assignment Help, we understand the importance of timely submissions and excellent grades. That's why our team of proficient writers offers comprehensive assignment writing help in the UK. Dive into our Free Sample to grasp concepts better and enhance your academic performance.s.
The legal administrative approaches are imperative factors to be aligned in the contemporary world to maintain the standard of governance. In this study, three sections have been discussed emphasizing the “international business law” which evaluates the scope of business for the betterment of the global economy, and the “contract and tort law” has also been evaluated. The “International Business Law” conveys the rules and regulations that impact the business dealings among different companies of different countries and includes “contract law, intellectual property law, and trade regulation”. The three parts focus on “international contractual relations” and “international business law” for enforcing “national intellectual property protection mechanisms”. The understanding of “regulation of international corporate behavior and corporate culture in a globalized economy” has been critically discussed and clarified for a better approach toward legal conventions of business.
Part 1
1.1 Discussion Legal Issues
The provided scenario considers the breaching of the “Sale of Goods Act 1893”. Chapter 71 of the act conveys that the “Contract of Sale” is expected to be followed when any transfer of goods or property has been promised to a buyer within a said price is supposed to be conditional (Singh, 2022). However, the capacity of buying and selling the goods or property must be there to conduct the same performance for the above-mentioned action. In this regard, it has been noted that Ellie wanted to sell a picture to Memoona, “an acquaintance who owns an art gallery in London” which was of the famous painter Rembrandt. Not being sure about the actual painter of the portrayal Memoona offered to purchase the painting for £5,000. Later, Ellie confirmed the actual painter and the worth of the painting is up to £500,000 and refused to sell the picture for the above-mentioned contract.
As per the legal concern, a contract considers a promise enforced by law when an eventuality arises. On the other hand, tort conveys a “collection of legal remedies that entitle an affected party to recover from losses, injuries, or damages” (Witt, 2019). The legal issues associated with the study consider the failure of the contract which has been conducted between Ellie and Memoona in a written form in a text message. It has been noted that the breach of the contract that took place, in this case, was an Actual breach as one party has refused to fully perform the contract (Vahlne and Schweizer, 2022). The legal remedies for the breach of contract consider the payment of the said amount. However, it has been noted that in this regard, no criminal offense has to be marked. In this case, a tort is supposed to take place and the legal remedy conveys a “Tort of Negligence” as per this concern.
The legal issues taking place against Memoona were the perception of tort and as per the remedy of the law, the other party who has breached the contract must pay the “monetary sum to the claimant”. As per an article authored by Petricevic and Teece (2019), considering the approaches of civil courts it is required to conduct a contract while being entirely sure regarding the words and sum to be paid as once a contract takes place this cannot be taken back and this is supposed to be recovered from the “defendant's insurance company”. The issue associated with the case of Ellie as she was unaware of the actual worth of the painting, and on the other hand, Memoona was unable to recognize the actual painter of the portrait because of this the entire confusion took place. Hence, the legal issues associated with the case are due to two major reasons such as “misinterpretation of contract” and “formation of contract”. The transaction in this regard is required to manage the materialistic support or information that Ellie was lacking while selling the picture has been considered as missing information regarding the contract. On the other hand, the inaccurate information regarding the painting caused misinterpretation which influenced the decision of Memoona.
1.2 Legal Advice or Council to Eric
The legal confrontations that are supposed to be followed by Eric were the contract that has been conducted between Memoona and Eric Suppliers Ltd. In this contract, it has been considered that Memoona is supposed to pay £10,000 for installing a “new heating system” and for painting the “entrance hall in the gallery” for the exhibition which is supposed to be completed by 26th December 2021 as the exhibition is supposed to be held on 2nd of January 2022. It has been considered that Eric has completed one of the two tasks within time and with perfect concern because of which Memoona earlier owed to make payment. In this regard, Eric Suppliers Ltd. is supposed to ask for payment from Memoona. The breach of contract which has taken place, in this case, was from the mutual side as both Memoona and Eric Suppliers Ltd. did not maintain their promise regarding the completion of the task as well as regarding the completion of the payment.
The concern of the due payment for the installation which has been completed by Eric Suppliers Ltd. within 26th December has to be considered as the company has to bear some expenditure for the installation purpose. In this regard, International Business law has not been followed and has to be considered for economic sanctions (Notteboom and Rodrigue, 2022). However, the payment for the painting was also required to be partially completed from the end of Memoona as Eric Suppliers Ltd. had to bear some cost for the painting. The charges associated with the painting must be provided to Memoona as evidence of the expenditure of the organization. The consideration of “Breach of Contract”, “Defective Painting”, and “Consequential Damages” has been noticed in this case study. All of these concerns follow certain legal principles and must be approved with authorized legal solutions and legal advice for managing the specifications associated with the payment but have not been completed.
The legal advice that is required to be justified for Eric Suppliers Ltd. is the accommodation of mismanagement because of which the deadline of the contract has not been followed appropriately. The causes which restricted Eric Suppliers Ltd. to complete the task within the mentioned date have to be provided as a piece of evidence in front of Memoona to maintain the consideration (Nambisan et al. 2019). Besides this, the standard of painting has been considered to be defective and this has resulted in disagreement regarding making payment for the painting. In this regard, Eric Suppliers Ltd. is supposed to provide an extended date to manage the painting while meeting the standard for satisfying the requirement of Memoona. Apart from that, the concern of “Consequential Damages” which has been caused to Memoona is supposed to be replaced while managing another exhibition hall or gallery so that the exhibition takes place on the same date and Memoona does not face any losses.
1.3 Legal Advice to Memoona
The damages faced by Memoona were supposed to be compensated from the end of Eric Suppliers Ltd. due to breaching the contract or not meeting the standard of work promised in return for the payment of £10,000. The legal advice that is required to be availed by Memoona is the consideration of “loss of income” that has been caused due to the issues associated with the painting. In this regard, compensation is expected to be asked instead of the sue against Eric Suppliers Ltd. As per the views of Lewin et al. (2020), the consideration of mutual understanding plays a great role in the case of compensation and it saves the reputation of both parties to some extent. The compensation that is supposed to be asked by Memoona is to manage another coat of paint on the walls of the gallery so that it covers the smell and also compensates for the previous mistake.
Memoona has faced certain issues regarding “loss of income” which is supposed to be compensated from the end of Eric Suppliers Ltd. along with the “mitigation of damages”. It has been considered that the association of a significant ‘lawsuit’ against Eric Suppliers Ltd. “may depend on the strength of the evidence presented, the applicable laws, and other relevant factors” (Kim et al. 2019). On the other hand, if Memoona sticks to the decision of conducting sue against Eric and charges the compensation of £500,000 as the incurring of loss for not conducting the exhibition she must produce legal and financial documents as proof of the above-mentioned sum which is a time-taking process.
The outcome considered in the case of proceedings of compensational actions that is asking the company to provide a coat of another painting to mask the toxic smell is an imperative factor that is supposed to result in less disturbance on the work of the exhibition. However, Memoona can also provide another offer to Eric Suppliers Ltd. regarding arranging another gallery to accommodate 200 individuals within one day so that the exhibition may take place on a postponed date. Thus, the interest of both parties is expected to be maintained as no losses will be faced by Memoona regarding the exhibition and no face loss will have occurred for Eric Suppliers Ltd.
Part 2
Scenario
Hiades Ltd, a UK based company, has developed a very innovative technological solution that unifies all the operative and administrative systems with an easy-to-use interface adapted to all pilotage requirements. The software is being used by several European Port Authorities. In Europe, software is usually copyrighted, but Hiades would like to expand to the USA. However, in the meantime, Hiades found that their software is being used by some companies without any license.
2.1 Analysis and Advice of Different Protection
The issues of copyright have prevailed in this case and require significant analysis of the issues faced by Hiades Ltd. The “innovative technological solution that unifies all the operative and administrative systems with an easy-to-use interface adapted to all pilotage requirements” of this organization has to be protected with copyright. However, the organization has not amended the same for managing the expansion of its business to the USA. In this regard, the analysis of the issues faced by the organization regarding the utilization of the software generated by them without any license has to be presented in court. The legal concerns followed by Hiades Ltd. are supposed to encrypt the aspects of “Copyright Protection”, “Patent Protection”, “Trade Secret Protection”, and “Contractual Protections”. All of these concerns come under the “national intellectual property protection mechanisms”. As per the law of the UK the “patents, designs, trademarks, and copyright” comes under the responsibility of the “Intellectual Property Office (IPO)” and comes under international business law to some extent (Hennart and Sutherland, 2022).
The different protections considered by the organization must manage “comprehensive information on UK law and practice”. As per the statement of Grøgaard et al. (2022), software protection as well as maintaining the copyright of the innovations comes under protection regarding maintaining the original work. Through copyright, the “intellectual property protection” is supposed to be confirmed from the end of the company so that no further discrepancies take place. Through this protection act the innovators and innovations are protected while accelerating the strong IP system (Evenett, 2019). The IP law also incentivizes future innovations, and, in this regard, it conveys the conventions of compensation for claiming statutory damages. The protection of rights of Hiades Ltd. is supposed to be established while registering on the website of “The U.S. Copyright Office” regarding the innovated software as registration provides relevant benefits regarding the “ability to sue for infringement” (Diniz-Maganini et al. 2023).
As per the concern of “Patent Protection” the amendment set by the “U.S. Patent and Trademark Office (USPTO)” has to be considered. The confidentiality of the software is supposed to be managed by the organization for limiting access of the software through the consideration of “non-disclosure agreements (NDAs)”. As per the views of Dau et al. (2021), the consideration regarding unauthorized access is supposed to be reported as per the IP law and it is expected to protect the rights of the software. The maintenance of “License agreements” are supposed to be followed while enforcing the “Contractual Protections” (Cumming and Zhang, 2019). Apart from these concerns, Hiades Ltd. must seek legal counseling regarding further approaches and actions to protect its authenticity. The comprehensive jurisdiction is expected to be managed in this regard for approving the protection of legal rights and patents of the software innovated by the organization.
2.2 Legal Advice on Intellectual Property
The complexity of the IP laws is expected to be implemented and legal counseling is supposed to be aligned by Hiades Ltd. for managing its rights. It has been considered that the legal advice includes relevant perceptions provided in the IP law among which come of the imperative concerns are “Copyright Registration”, “Cease and Desist Letter”, “Negotiate License Agreements”, “Legal Action”, and the “Protection of Business Strategies”. As per an article authored by Coscia et al. (2020), the valid jurisdictions associated with the IP law consider the principles regarding the maintenance of ownership of the creator or inventor of an “intellectual property”. Legal advice considers the prohibition of misuse of unregistered creations that have been repeated by many companies without any license. The registration on the copyright website can provide the access to Hiades Ltd. to claim complaints against the companies which have used the invented software of the organization without any license and is also essential for claiming the “statutory damages”.
The infringement caused against the organization demand to stop the utilization of the software and negotiation must be conducted for a “license agreement”. As per the words of the Contractor (2021), the agreement must be held along with the license and negotiation so that Hiades Ltd. is expected to generate revenue from every registration of the software. The “lawsuit for copyright infringement” has to be implemented for managing legal actions and the remedies are supposed to implement business strategies that must meet the remedies of the court system. Protection of the software is required to be monitored as a priority and it is expected to be aligned with the “proprietary licensing methods” (Benito et al. 2019). The legal bits of advice have been described in the light of registering in the IP concern for managing “Copyright Registration” while mitigating the risks by negotiating the license and access for managing revenue of each access of the software of Hiades Ltd.
Part 3
Scenario
Death Star Group, Ltd is a multinational company operating in the aerospace industry. While the company considers the carbon intensity of their business to be low, they have been publishing greenhouse gas emissions data for a number of years to meet regulatory requirements. At the last AGM, shareholders filed a resolution requesting that Death Star Group, Ltd disclose more information on the risks of climate change to their business and the financial impacts associated with these risks in the next annual report.
As other companies in the aerospace sector have not disclosed this information, the company is concerned that publishing these figures will draw negative attention to the business, as they may be perceived to be more vulnerable in the market. The reporting team have also expressed concerns over the quality of the information you currently have available, as the company have not undertaken a specific climate risk assessment.
3.1 Legal Issues
The “regulation of international corporate behavior and corporate culture in a globalized economy” has been emphasized in this case study that focuses on mutual understanding as well as betterment for managing profitability. The international risks associated with the concern of involving export controls and managing definite business behavior (Athreye et al. 2020). The legal issues faced by the Death Star Group, Ltd. considers the resolution of the shareholders and has been requested for approaching the “disclosure of climate change risks and financial impacts in their annual report”. The issues involved in this case study are the mismanagement of “Regulatory Requirements”, “Shareholder Rights”, “Disclosure Obligations”, “Climate Risk Assessment”, and “Market Perception and Reputation”. Promoting transparency through the report of Death Star Group, Ltd. is supposed to make the condition to sustain and enhance vulnerability, and failure to compile the concern considers further “fines, penalties, or legal liabilities”. The legal challenges and obligations are expected to be managed and secured by addressing the concerns associated with “greenhouse gas emissions”.
The association of “environmental, social, and governance (ESG) factors” has to be approached by considering the reputation of the company. As per the concern of legal consequences, it is required to manage the loss of “investor confidence”, “inadequate risk management”, and the “breach of fiduciary duties, or misleading disclosures”. As narrated by Aguilera et al. (2019), the establishment and maintenance of reputation are supposed to be considered and transparency is supposed to be maintained in the case of such serious meetings. Transparency is expected to be followed regarding maintaining supportive concern and attention is supposed to be followed for “potential market perception” otherwise it is supposed to hamper the reputation regarding the reporting constraints of the organization.
3.2 Legal Advice for Death Star Group
The legal advice for the Death Star Group must align as per the mitigation of the issues discussed earlier, and, in this regard, proper analysis of the issues must take place. The mitigation of these aspects is supposed to be conducted while securing “Compliance with Regulatory Requirements”, “Shareholder Rights”, “Disclosure Obligations”, “Climate Risk Assessment”, and “Reputation Management”. As influenced by Aguilera and Grøgaard (2019), the legal implications must align with the shareholder’s resolution so that it manages the significant rights of the stakeholders and for managing the reputation of the organization. The legal obligations against the company must have prevailed while disclosing the “greenhouse gas emissions data” as the failure of such reporting may result in “fines, penalties, or legal liabilities”. Apart from that, the ownership of the stakeholders must be managed while engaging them with their rights while following the financial implementations.
The improvement of the information quality is supposed to be arranged and manipulation of the concern is supposed to be arranged for disclosing the authorized and confidential data. The corporate norms are supposed to be maintained for considering the fulfillment of action of the reporting team. As opined by Nambisan et al. (2019), the association of significant management must be considered while describing the “stakeholder relationships” along with the authentic information through the report so that it does not damage the reputation of the functionality and maintain risk assessment. The maintenance of this legal advice is impactful for managing the image and actions with harmless concern for the long term.
Conclusion
This study influences the legal administrations regarding “international business law”, “contract and tort law”, “intellectual property law”, and “trade regulation”. Three case studies have been considered and discussed based on the legal dimensions along with the legal remedies. The issues faced by several clients and organizations have been discussed in this regard and the accommodation of relevant understanding of “regulation of international corporate behavior and corporate culture in a globalized economy” has been critically discussed. The importance of maintaining a patent for reducing the risk of unauthorized access and for generating revenue has been emphasized. Specific clarification on every case has been focused on a better approach toward legal conventions of business.
References
Aguilera, R.V. and Grøgaard, B., 2019. The dubious role of institutions in international business: A road forward. Journal of International Business Studies, 50, pp.20-35. Available at: https://www.ruthaguilera.com/s/63-Aguilera-Grogaard-2019.pdf (Accessed on: 18.04.23)
Aguilera, R.V., Marano, V. and Haxhi, I., 2019. International corporate governance: A review and opportunities for future research. Journal of International Business Studies, 50, pp.457-498. Available at: https://www.researchgate.net/profile/Ilir-Haxhi-2/publication/331726582_International_Corporate_Governance_A_Review_and_Opportunities_for_Future_Research/links/5c8e545992851c1df9480279/International-Corporate-Governance-A-Review-and-Opportunities-for-Future-Research.pdf (Accessed on: 18.04.23)
Athreye, S., Piscitello, L. and Shadlen, K.C., 2020. Twenty-five years since TRIPS: Patent policy and international business. Journal of International Business Policy, 3, pp.315-328. Available at: https://link.springer.com/article/10.1057/s42214-020-00079-1 (Accessed on: 18.04.23)
Benito, G.R., Petersen, B. and Welch, L.S., 2019. The global value chain and internalization theory. Journal of International Business Studies, 50, pp.1414-1423. Available at: https://research-api.cbs.dk/ws/files/60827884/bent_petersen_et_al_the_global_value_chain_and_internalization_theory_acceptedversion.pdf (Accessed on: 18.04.23)
Contractor, F.J., 2019. Can a firm find the balance between openness and secrecy? Towards a theory of an optimum level of disclosure. Journal of International Business Studies, 50, pp.261-274. Available at: https://www.researchgate.net/profile/Farok-Contractor-3/publication/329222262_Can_a_Firm_Find_the_Balance_Between_Openness_and_Secrecy_Towards_a_Theory_of_an_Optimum_Level_of_Disclosure/links/5bfdab47299bf1c2329e7683/Can-a-Firm-Find-the-Balance-Between-Openness-and-Secrecy-Towards-a-Theory-of-an-Optimum-Level-of-Disclosure.pdf (Accessed on: 18.04.23)
Contractor, F.J., 2021. The world economy will need even more globalization in the post-pandemic 2021 decade. Journal of International Business Studies, pp.1-16. Available at: https://link.springer.com/article/10.1057/s41267-020-00394-y (Accessed on: 18.04.23)
Coscia, M., Neffke, F.M. and Hausmann, R., 2020. Knowledge diffusion in the network of international business travel. Nature Human Behaviour, 4(10), pp.1011-1020. Available at: https://pure.itu.dk/ws/files/85337687/knowhow_index_NHB_cameraready.pdf (Accessed on: 18.04.23)
Cumming, D. and Zhang, M., 2019. Angel investors around the world. Journal of International Business Studies, 50, pp.692-719. Available at: https://dipartimenti.unicatt.it/dises-Dises_160927_Cumming_paper.pdf (Accessed on: 18.04.23)
Dau, L.A., Morck, R. and Yeung, B.Y., 2021. Business groups and the study of international business: A Coasean synthesis and extension. Journal of International Business Studies, 52, pp.161-211. Available at: https://link.springer.com/article/10.1057/s41267-020-00395-x (Accessed on: 18.04.23)
Diniz-Maganini, N., Rasheed, A.A., Ya?ar, M. and Hua Sheng, H., 2023. Cross-listing and price efficiency: An institutional explanation. Journal of International Business Studies, 54(2), pp.233-257. Available at: https://bibliotecadigital.fgv.br/dspace/bitstream/handle/10438/32655/Cross_listing%20and%20price%20efficiency_An%20institutional%20explanation%20%2823.09.22%29.pdf?sequence=1 (Accessed on: 18.04.23)
Evenett, S.J., 2019. Protectionism, state discrimination, and international business since the onset of the Global Financial Crisis.Journal of International Business Policy,2, pp.9-36. Available at: https://link.springer.com/article/10.1057/s42214-019-00021-0 (Accessed on: 18.04.23)
Georgiadou, A., Metcalfe, B. and Rimington, C., 2019. Let women take the lead: Insights from the UK defense industry. AIB Insights, 19(4). Available at: https://nottingham-repository.worktribe.com/index.php/preview/4329580/16964-let-women-take-the-lead-insights-from-the-uk-defense-industry.pdf (Accessed on: 18.04.23)
Grøgaard, B., Sartor, M.A. and Rademaker, L., 2022. What merits greater scholarly attention in international business?. Journal of International Business Studies, 53(7), pp.1508-1518. Available at: https://link.springer.com/article/10.1057/s41267-022-00539-1 (Accessed on: 18.04.23)
Hennart, J.F. and Sutherland, D., 2022. International business research: The real challenges are data and theory. Journal of International Business Studies, pp.1-20. Available at: https://link.springer.com/article/10.1057/s41267-022-00566-y (Accessed on: 18.04.23)
Kim, J.B., Pevzner, M. and Xin, X., 2019. Foreign institutional ownership and auditor choice: Evidence from worldwide institutional ownership. Journal of International Business Studies, 50, pp.83-110. Available at: https://mdsoar.org/bitstream/handle/11603/7724/Foreign%20Institutional%20Ownership%20and%20Auditor%20Choice-%20Evidence%20from%20Worldwide%20Institutional%20Ownershi.pdf?sequence=1 (Accessed on: 18.04.23)
Lewin, A.Y., Massini, S. and Peeters, C., 2020. Absorptive capacity, socially enabling mechanisms, and the role of learning from trial and error experiments: A tribute to Dan Levinthal’s contribution to international business research. Journal of International Business Studies, 51, pp.1568-1579. Available at: https://sociorepec.org/publication.xml?h=repec:pal:jintbs:v:51:y:2020:i:9:d:10.1057_s41267-020-00354-6&l=en (Accessed on: 18.04.23)
Nambisan, S., Zahra, S.A. and Luo, Y., 2019. Global platforms and ecosystems: Implications for international business theories. Journal of International Business Studies, 50, pp.1464-1486. Available at: https://www.researchgate.net/profile/Satish-Nambisan/publication/332241987_Global_platforms_and_ecosystems_Implications_for_international_business_theories/links/5d3e3b60a6fdcc370a694ade/Global-platforms-and-ecosystems-Implications-for-international-business-theories.pdf (Accessed on: 18.04.23)
Notteboom, T. and Rodrigue, J.P., 2022. Maritime container terminal infrastructure, network corporatization, and global terminal operators: Implications for international business policy. Journal of International Business Policy, pp.1-17. Available at: https://link.springer.com/article/10.1057/s42214-022-00142-z (Accessed on: 18.04.23)
Petricevic, O. and Teece, D.J., 2019. The structural reshaping of globalization: Implications for strategic sectors, profiting from innovation, and the multinational enterprise. Journal of International Business Studies, 50, pp.1487-1512. Available at: https://link.springer.com/article/10.1057/s41267-019-00269-x (Accessed on: 18.04.23)
Singh, S., 2022. Tracing The History Of The Sale Of Goods Act, 1930. Nyaayshastra L. Rev., 3, p.1. Available at: https://hcommons.org/deposits/download/hc:46720/CONTENT/tracing-the-history-of-the-sale-of-goods-act-1930.pdf/ (Accessed on: 18.04.23)
Vahlne, J.E. and Schweizer, R., 2022. Human behavior and judgment: A critical nano-foundation for the Uppsala model and international business studies. Journal of International Business Studies, 53(7), pp.1549-1555. Available at: https://link.springer.com/article/10.1057/s41267-022-00502-0 (Accessed on: 18.04.23)
Witt, M.A., 2019. De-globalization: Theories, predictions, and opportunities for international business research. Journal of International Business Studies, 50(7), pp.1053-1077. Available at: https://link.springer.com/article/10.1057/s41267-019-00219-7?event-date=1446&error=cookies_not_supported&code=a68af95a-37f8-4bf7-9b8a-6a75f5b59694 (Accessed on: 18.04.23)
