BU205 Lecture Notes - Lecture 5: Foreign Corrupt Practices Act, Liability Insurance, Product Liability
Document Summary
The united nations convention on contract for the international sale of goods (cigs) Ratified by the u. s: and about 70 countries arbitrary. 2 the right to earn income from the good. 3 the right to transfer the good to others. 4 the right to enforcement of property rights. The idea of foreign corrupt practices act (fcpa) is to make it illegal for companies and their supervisors to influence anyone with any personal payments or reward. Intellectual property: computer software, a screenplay, a music score or chemical formula (patent, copyrights and trademarks) - stay away from countries where intellectual property laws are lax. Product safety laws: certain standards to which a product must adhere. Product liability: holding a firm and its officers responsible when a product causes injury, death or damage, inability laws tend to be less extensive in less developed nations (liability insurance in the us - makes companies less competitive)
