5.1 Chapter 5 International Business Law © 2003 by West Legal Studies in Business/A Division of Thomson Learning

5.2 Introduction  International business law  International business law examines laws affecting international business transactions  International trade  International trade occurs when goods or services produced in one country are purchased by firms or individuals located outside the country of origin  International investment  International investment occurs when individuals or firms purchase an interest in foreign firms

5.3 Sources of International Law National lawsTreaties Practices and customs Regional organizations International organizations

5.4 Comparison of National Legal Systems Judicial decisions Primary source of law in countries with common law legal system Civil law or code Civil law or code Limits role of courts and greater importance on administration interpretation

5.5 Stages of Regional Integration  Free trade area  Customs union  Common market  Economic union

5.6 International Organizations  United Nations (UN)  World Trade Organization (WTO)  World Intellectual Property Organization (WIPO)  International Monetary Fund  World Bank (WB)

5.7 Trade Related Intellectual Property Rights Agreement Main features of the TRIPS agreement  Establish minimum standards  Provide for enforcement of intellectual property rights  Send disputes to the WTO’s dispute settlement provisions

5.8 Laws Affecting Imports  Laws regulating exports  Laws encouraging exports  Laws affecting imports

5.9 International Licensing  Use of licensing  Terms of a licensing agreement  Taxation of licenses  Franchising

5.10 Laws Affecting International Investments  Types of foreign investments  Joint ventures  Mergers  National laws of different countries

5.11 Legal Aspects of Direct Investments  Investment laws and policies  Forms of business organization  Exchange controls  Tax considerations  Labor laws  Safety of investment  Antitrust laws  Intellectual property protection