The paper "Dealing with International Business Law" is a decent example of a Business assignment. In today’ s world, many businesses have turned international. An international business is a transaction that takes place across borders. Businesses have left the circles of being local to being international and therefore all transactions are carried out under normative structure to provide a procedure that will maintain the local character. Even economists agree that the rule of law is of great importance even when conducting business. Many nations/states guard their legal system against others. However, no matter how complex their legality may be, it never supports all the structures for cross-border business (Kirchner & Stefan 2007). The rule of law is the main concept that streamlines the operations of the domestic and international laws that govern the conduct of international business transactions. It serves as the central ground where lawyers navigate the legal framework the covers their clients who are doing business across borders. It is worth noting that international business transactions are complex and therefore there is a need to be familiar with the relevant law and legal system.
However, in most cases, people find it hard to have all laws of another country at the fingertips and therefore there is always a need to have a legal advisor to assist them to carry on with their business in the country not their own. For example, for one to conduct business in the USA there is a need to understand the laws that such activity. Like when starting a company there you need to understand how USA laws affect areas like; how profits are received by the U. S company, how financing can be arranged, U.S technology export controls, the relations between the U. S and the other countries, limits of payments that may be made by the U. S company to another country’ s official, available insurance covers, payments of customs duty on imports and how international contracts are conducted just to mention but a few (Kirchner & Stefan 2007).
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