Options can be used as part of an employee`s compensation because they provide additional motivation for employees to perform well and drive future business growth. Small business has a clear advantage over mega-companies when it comes to breaking into this area. Self-proclaimed global guru John Naisbitt calls this the “global paradox.” According to Naisbitt, small businesses are better positioned to do business in the new global marketplace because they are more flexible, less bureaucratic, dynamic and often more innovative. In fact, with the help of technology, contacts, research and, of course, a good lawyer, the solo player, even a beginner in international trade, can be as successful as large import/export companies! This is clearly an opportune time for any small business or player to venture into international trade and enjoy the many benefits of the field such as travel, networking and huge profit potential. Before discussing trade-related aspects of IP, it is important to define IP. Unlike tangible and personal property, intellectual property is intangible, but like real and personal property, the name itself implies some kind of ownership. In the case of intellectual property, ownership takes the form of authorship, creation and invention. Thus, intellectual property includes many things such as trademarks, company or company names, patents, copyrights, trade secrets, and designs. The ICC is a global economic organization with more than 7,000 member companies and associations and more than 130 countries. Its purpose is to promote international trade and investment, as well as the market economy system, but a unique function of the ICC is to serve as the world`s leading institution in the settlement of international trade disputes through the ICC`s International Court of Arbitration. The Court of Arbitration is not really a court, but the administrative body that ensures compliance with the ICC`s arbitration and conciliation rules. In some cases, this may require local lawyers who can translate your standard agreement into their language and make the necessary legal adjustments to ensure it complies with their laws. The globalization of your business can be both exciting and nauseating.
Instead of worrying about the monsters lurking in the dark corners of international trade, a leader`s attention should focus on maximizing the impact of global opportunities. To demystify the process, here are some big legal questions that any company considering global expansion should consider: If you`re selling to individuals, whether consumers or employees, you need to know the legal status of your business in the country you`re entering. The international market is waiting to be plundered by you. It is ripe with opportunities and potential gains for anyone willing to invest time and effort more than anything else. Take, for example, the current pattern of world population growth. The population of the United States represents just over four percent of the world`s population and is growing comparatively more slowly. The population of developing countries is growing exponentially and this huge global market is largely untapped. One statistic estimates that 85% of U.S. exports come from just 250 companies! ELAN is a national group of lawyers with experience in international trade who volunteer to provide initial legal advice. ELAN is a collaborative program between the Federal Bar Association, the U.S. Department of Commerce and the U.S.
Small Business Administration. The challenge is not only to translate your contracts, but also to ensure that translations are legally binding in all the countries you target. Every issue mentioned in this package also affects businesses in the Caribbean basin. However, some international trade agreements and agreements have made doing business in Caribbean Basin countries cheaper for U.S. companies than in the past. Even for small businesses, this huge global market has a relatively open field. This is a new global economy in which trade barriers are slowly beginning to collapse and technology and communications are levelling their strengths. These global demographic and economic changes make it a particularly opportune time for a domestic company or even an individual entrepreneur to venture into international trade. (4) Manufacturer Representatives – For importers, they essentially act as independent sellers who promote and sell your imported products to retailers. Representatives of the manufacturer act more on export, as their name suggests.
Often, these people, who represent domestic manufacturers who want to expand into the international market, turn to exporters. In 1977, the United States was one of the few countries in the world to apply a law similar to the FCPA. However, on 20 November 1997, the 29 member States of the Organisation for Economic Cooperation and Development (OECD) and five non-signatory States (Argentina, Brazil, Bulgaria, Chile and the Slovak Republic) adopted the Convention for the Suppression of Bribery of Foreign Public Officials in International Business Transactions (Anti-Bribery Convention). The convention requires each signatory to adopt “effective measures” to deter its citizens from bribing foreign officials for commercial purposes. Is there a risk of political upheaval, war, etc. that could disrupt business operations? This includes the possibility of expropriation or nationalization of the company`s resources. A corrupt payment is corruption. The FCPA`s anti-corruption provisions prohibit paying, offering or promising a payment or authorizing a payment, offering money or any kind of consideration to foreign officials.
The person making the payment must have bribery intent, and the payment must be used to induce the recipient to abuse his or her official position to illegally direct business to the person offering the payment. The FCPA does not require an act of corruption to serve its purposes. Offering a corrupt payment may be a violation of the law. (4) Export and Import Management Corporation (IEMC) – essentially a person or entity acting as an intermediary in transactions between importers and exporters.