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© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS
LESSONLESSON8-18-1GOALSGOALS
Identify and describe the Identify and describe the legal systems upon which legal systems upon which international law is based.international law is based.
Explain product liability.Explain product liability.
INTERNATIONAL LEGAL SYSTEMS AND LIABILITY
2
© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS
Legal Systems
Civil lawCommon lawStatutory law
3
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Liability
Liability for debt, loss, and injuryProduct liability
NegligenceStrict liability
© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS
LESSONLESSON8-28-2GOALSGOALS
Explain laws and Explain laws and international trade international trade agreements that protect agreements that protect property rights.property rights.
Describe when an Describe when an agreement has all of the agreement has all of the components of a contract.components of a contract.
PROPERTY AND CONTRACTS
5
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Property Rights and Responsibilities
Property lawIntellectual property
PatentsTrademarksCopyrights
6
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Components of a Contract
CapacityMutual agreementConsiderationLegal purpose
7
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Treaties and Trade Agreements
World Trade Organization (WTO)European Union (EU)North American Free Trade Agreement
(NAFTA)CanadaMexicoUnited States
© SOUTH-WESTERN THOMSONINTERNATIONAL BUSINESS
LESSONLESSON8-38-3GOALSGOALS
Identify several different Identify several different ways to resolve ways to resolve international legal disputes.international legal disputes.
Explain the litigation Explain the litigation process.process.
Describe the role of the Describe the role of the International Court of International Court of Justice in international Justice in international business.business.
RESOLVING LEGAL DIFFERENCES
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Resolving Legal Differences
Without Court ActionMediationArbitration
Using Court ActionLitigation
10
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The International Court of Justice
Established by the UN Charter in 1946Sits in The HagueSettles disputes between nationsAdvises UN on matters of international
law