This website uses cookies to ensure you have the best experience. Learn more

International Legal And Ethical Issues Essay

1381 words - 6 pages

The company Cad Mex Pharma is a pharmaceutical company that is a global leader in developing pharmaceuticals and healthcare products based out of Tampa Bay Florida. This company produces medications like over the counter drugs to antibiotics. Cad Mex Pharma is interesting in licensing a drug called pro prez, which is an anti-diabetic drug and is produced by a company called Gentura in the country of Condore. The first step that has been taken is figuring out which choice of law clause to use. Amanda used Candorean Regulations for Technology Imports Contracts, which will be, negotiated through international arbitration that is non-binding.As a result of this Candore has become a member of the World Trade Organization or WTO. Since this has happened the president of Candore has changed the regulations of the technology import contracts. The regulations are more relaxed in hope to encourage foreign investments and trades. Since the contract was not finalized when the new regulations came into play, the Cad Mex Pharma had to rethink the situation and discuss if their first choice was still the best. The reason this choice was the best is that it allowed Candorean government to relax regulations to coincide with WTO's rules.Non-binding arbitration was the best alternative because it takes up less time and money than going through the court system. Since the finalization of the contract, Cad Mex has given marketing right of the viroblax, which is an antibiotic to Gentura. In March of 2012 a viral epidemic hits Cordore. As a result the Cordorean government wants Gentura to subsizied the drug that would be a breach of contract of the payment terms between Gentura and Cad Mex. CadMex has issued license to Gentura to develop medical agents or drugs using a technique that CadMex has developed which reduces the time required to develop the medical agents or drugs. In return, of this know-how, Gentura has provided worldwide marketing rights to CadMex for the drugs that are developed using CadMex's technology. One of the payment clauses of the contract says, "Gentura will pay the licensor, CadMex Pharma, a running royalty equal to 7.5% of Net Sales of the Licensed Product sold by the licensee protected by patent rights." If Gentura subsidizes the production of VioBrax, the payment terms of the contract between Gentura and CadMex will be violated.In event of a contract breach, CadMex has the following options: By taking legal action can affect future relations with Gentura and Candore. At the same time, not taking any action and letting Gentura vary from the payment clause by more than 5% will lead to disregard of the contract by Gentura. If no legal action is taken than claim compensation can be issued. A financial settlement of the dispute will take care of the interests of CadMex Pharma, but such an action can possibly bankrupt Gentura, which will affect CadMex. Another option would be to take no legal action, but share marketing rights for another drug....

Find Another Essay On International Legal and Ethical Issues

Addressing International Legal and Ethical Issues

681 words - 3 pages CadMex.Sincerely,V.P International Business DevelopmentUniversityReferencesAddressing International Legal and Ethical Issues. (2008). Retrieved September 21, 2008, from

Addressing International Legal and Ethical Issues Simulation

691 words - 3 pages the foreign country against all eventualities, given that possible disagreements and disputes are common in international trade. Besides the legal aspects of international business, American companies have to also consider the cultural and ethical differences inherent in such business transactions as well. The decisions made by CadMex provided solutions to issues that could have caused severe problems.

Addressing International Legal and Ethical Issues

752 words - 3 pages sales for other products that would make up for the loss on the ViroBlax product.If the dispute is referred to the court system, the contract specifies that the choice-of-law clause and International arbitration will be used to settle any legal issues that may arise. The dispute should be handled via international arbitration vs. Candore Courts or US courts. International arbitration is a proceeding in which two public or private entities refer their

Addressing International Legal and Ethical Issues Memorandum

1568 words - 6 pages into consideration that when legal, ethical and cultural issues arise many need to answer the question does the result end up in not doing business. The second factor is both companies must ensure the contract is legally acceptable and bound. The contract must protect the company's interest in the foreign country against all eventualities, given that possible disagreements and disputes are common in international trade (University of Phoenix

International Legal and Ethical Issues Simulation

672 words - 3 pages forum that best suited the situation for the type of contract that needed to be established between CadMex and Gentura. The CRTIC set a stronger foundation for both parties involved, with regards to international technology and equipment transfer as well as protection of rights and patent provisions. CRTIC outlines specific rules for international technology transfer between foreign and Candorean businesses. The provisions of the CRTIC specify basic

Ethical, Legal, and Regulatory Issues

1059 words - 4 pages for office and owners - that any business faces" (p. 284). Whether the business caters to other businesses or consumers, there is usually a transaction or sale of a product or service. Since the Internet helps to thrust businesses into the worldwide market, businesses need to be mindful of the different legal, ethical, and regulatory issues in order to remain competitive and to avoid potential legal liability.Ethical ConcernsEthics is an important

Ethical, Legal, And Regulatory Issues

1173 words - 5 pages , ask yourself if this is the proper way to handle business. Businesses have been guilty of shortsightedness themselves for decades. Every company needs to deal with ethical and legal issues every day in normal business activities. There is a whole new set of issues that are emerging with so much business being conducted online. This paper will attempt to show how ethical, legal, and regulatory issues differ in comparison with B2C and B2B.B2C Ethics

Ethical and Legal issues in ICT

919 words - 4 pages Ethical and Legal issues in ICT • Introduction The consistent use of information and communication technology (ICT) in modern world enables us for countless opportunities for individuals, institutions, business organisations and scientists, but it also raises difficult ethical and legal problems. In particular, ICT helped to make societies more complex and thus even harder to understand. The use of ICT has led to changes in concepts: ownership

Legal and Ethical Issues in School Counseling

1735 words - 7 pages The topic of this paper focuses on the battles school counselors face as the law and ethical standards collide. School counselors face a number of legal and ethical issues and recognizing a clear decision isn’t always easy. School counselors have to work with a large number of students, parents, and administrators while conforming to ethical codes, state laws, and school board guidelines. This topic is of great relevance to me as I will be

Sony-ethical, legal, and regulatory issues

834 words - 3 pages through is a key aspect in ensuring the ethical, legal and regulatory aspects are met. The Internet does not provide anything like the obvious international boundary lines in the physical world. Thus, the four considerations that work so well in the physical world--power, effects, legitimacy, and notice--do not translate very well to the virtual world of eBusiness. Governments that want to enforce laws regarding business conduct on the Internet must

Ethical, Legal, and Regulatory Issues Paper

1743 words - 7 pages who participate in conducting e-business transactions on the web. According to McAfee Inc., an internet security company, new threats are constantly arising on the internet that make consumers vulnerable to becoming victims of cyber crime (CNN, 2009).Aside from security issues, companies well as consumers need to be mindful of legal, ethical and regulatory issues when participating in an e-business environment. Team D's paper will discuss how

Similar Essays

International Legal And Ethical Issues Essay

769 words - 3 pages Upon completion of the University of Phoenix simulation "Addressing International Legal and Ethical Issues," we as a team have outlined below several concerns that must be addressed prior to entering into any legally binding business contracts with international organizations.Addressing International Legal and Ethical Issues.Prior to entering into international contractual business agreements it is important to take into consideration the rules

Addressing International Legal And Ethical Issues

777 words - 3 pages Addressing International Issues PAGE \* MERGEFORMAT 1 Addressing International Legal and Ethical IssuesTeam BUniversity of PhoenixBUS 415June 4, 2009Addressing International Legal and Ethical IssuesThe University of Phoenix offers a simulation about CadMex and Gentura and an international contract they pursue (University of Phoenix, 2009). CadMex as a pharmaceutical company is about to go into contract with Gentura, a company in the country of

Business: International Legal And Ethical Issues

1326 words - 5 pages International Legal and Ethical Issues When businesses deal globally to expand their markets they may face dilemmas which must be dealt with to avoid conflict. The types of issues many companies encounter deal with legal, ethical and cultural encounters. From our example we see the legal issues in settling disputes for international transactions can become very complex. Ethical issues concerning the workers, the culture, and the environment

Addressing International Legal And Ethical Issues 1335 Words

1335 words - 5 pages clear on what the goal is and who will be involved.According to Cad Mex Pharma's history, the company has strived to develop a "cost-effective health care product" (Addressing International Legal and Ethical Issues, 2004). The company's experience in international businesses has allowed over 127 global alliances. This also includes five research centers within the United States and Europe.While preparing this international contract, make an