Wednesday, November 20, 2019

Addressing International Legal and Ethical Issues Simulation Summary Essay

Addressing International Legal and Ethical Issues Simulation Summary - Essay Example While taking legal action against a foreign business partner based in another country, there often exists certain practical considerations that need to be taken into account. Contextually, the laws prevailing in the host country may not be the same as in the domestic environment and may vary drastically. Moreover, the culture of the host nation as well as the ethical values possessed by foreign business partner may not place the same degree of importance to the aspects such as trust and belief (Aliment, 2009). Consequently, it is necessary for the guest business partner to consider and get acquainted with local values, norms and ethics for seeking legal action against a foreign business partner. With respect to CadMex Pharma company, its partnering company i.e. Gentura is located in Candor country. There are certain factors that may work against CadMex’s decisions to grant sublicensing agreements. It should be noted that a company having a number of sublicensing agreements is vulnerable to face lawsuits, if the third parties such as workers are involved in any kind of property damages or related activities. In other words, CadMex will be liable for any damages occurring due to any third party negligence. When, the local customs and laws conflict with the customs and laws of an organization operating abroad, essentially the local customs and laws of the particular country in which the company is located prevails. A company operating abroad has to abide by the laws, value the ethics and respect the culture of the host nation, failure to do so may render the company to attract legal actions against for not abiding by the rules and the regulations of the host country. Such legal actions may hurt the business relationship immensely and create misunderstanding against each other. I believe that local laws, ethics and cultural aspects are closely related with each other. If the

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