GEB 1101 Lecture Notes - Lecture 7: World Trade Organization
Document Summary
Also known as code law, based on an all-inclusive system of laws that have been codified; the laws are clearly written and accessible. Also known as a case law, the basis is traditions, previous cases, and legal precedents set by the nation"s courts through interpretation of statutes, legislation, and past rulings. Government seizure of an entire industry, with or without compensation. Affect the type of entry strategy firm"s choose, as well as their operations and performance. Governments impose laws and regulations on how firms can conduct production, marketing, and distribution activities within their borders. These laws determine which practices are allowed in advertising, promotion, and distribution. Mnes earn profits in various countries and typically seek ways to transfer these funds back to their home country. However, in some countries, governments devise laws that restrict transfers. Governments enact laws to preserve natural resources; to combat pollution and the abuse of air, earth, and water resources; and to ensure health and safety.
