International aspects of business law Coursework

International aspects of business law - Coursework Example Increasingly international trade organizations such as the WTO and bilateral free-trade agreements such as those in place with the United States and E.U. can significantly shape and alter the economic environment in a way that financial planners must identify and manage for investment clients with advance preparation. The importance of international law to traders in this context of financial investment services and commodities trading particularly cannot be understated, as it is a direct aspect of risk management operations that form a part of due diligence in any overseas investment strategy. Financial planners and traders must identify the risk elements that international law governs as a variable in estimating the success and expected returns of a project in order to successfully manage investment services for clients in the contemporary era of globalization. The history behind the WTO, bank frameworks, and financial regulation are all chief matters of international aspects of bu siness law which affect trade. The application of international law to trading activity of commodities, equities, and bonds globally is a specialized field and different in many ways from the sectors of international law which govern trade, commerce, and other forms of business development activity. For example, international traders generally have little worry over the application of labour or environmental law to their activities globally, as these are related to the general commercial operations of a business and not the trading activity particularly. Traders find their business operations most significantly impacted in the import and export process when the goods involved are passing through an international border. Most nations do not tax transit cargo that passes through sea and air ports, however most nations do tax and regulate imports and exports domestically through the application of international law and accepted practice. In order for a trader or financial planner to un derstand the requirements and how they apply differently from country to country, the GATT Agreements, or General Agreements on Tariffs and Trade, begun in international negotiations at the end of the Second World War and birth of the United Nations, are the most important references for international trade. The GATT Agreements stand as the most comprehensive and accepted standards of international trade laws among nations as negotiated directly through their envoys and representatives. Therefore, international traders and financial planners who require the complete country-by-country listing of trade and tariff requirements as established in international law should base their investigation in the publications of the GATT Agreements, or General Agreements on Tariffs and Trade, and the World Trade Organization (WTO), the modern descendent of the International Trade Organization (ITO). DZ Cass has written about the GATT and ITO/WTO systemization of international trade law in his essa y, The 'Constitutionalization' of International Trade Law: Judicial Norm-generation as the Engine of Constitutional Development in International Trade (Cass, 2001). In the articles, Cass suggests that the GATT Agreements and further negotiations of the WTO represent a process of creating a type of constitution for international trade where nothing but the chaos and conflicting interests of sovereign

Company- Samsung Electronics Essay Example | Topics and Well Written Essays - 2500 words

Company- Samsung Electronics - Essay Example 2. BRIEF HISTORY Samsung Electronics Co., Ltd. was established in 1969. It was one of the top divisions of the Samsung Group which was founded by Byung-Chull Lee. The name Samsung meant in Korea as "three stars." His first line of business was sugar refinery. Then few years later, Lee entered the manufacturing business. He also built other lines of businesses in 1960s such as insurance, broadcasting, securities and department stores. On late 1960s, Samsung Electronics began its operations with the help of some American, European, and Japanese manufacturers. As the company entered into the world of electronics, they made a huge investment to train their employees about the technologies used at the same time partnered with several overseas companies to make it possible (Funding Universe, n.d.). The 1970s period marked the beginning of Samsung's competitive vision to be the world's top contender in manufacturing electronics. The company's pride was the development of various electronics items which include semiconductors, computers, telecommunications hardware and finished consumer electronics products (Samsungn.d.a). In 1980s, the company expanded their business in the form of exports and partnering with other big companies and other suppliers of technology from other countries. They made huge sales and profits from export. In 1990s, the company experienced crisis in which it rooted from the crisis that the Korean government went through during the 1997 International Monetary Fund crisis. However, the company made a full stand during the crisis by adopting a series of restructuring as a form of rescue operation. The company was successful on their risky move. In the new millenium, the company spread even more their vision as they proclaimed to the world their plan of becoming the world's top producer and exporter of digital electronics. 3. SCOPE OF ITS INTERNATIONAL MARKETING 3.1 GOVERNMENT VS. INDUSTRY â€Å"Industrial transformation is the process in which an industry changes its production technology, market distribution, product scope, and location† (Shin & Ho, 1997). Government policies are among the factors that affect the transformation (Shin & Ho, 1997). On January 28, 1969, the Electronics Industry Promotion Law was enacted by the Korean government. This law was to promote major electronics export industry by developing new technology products and increase sales activities outside the country (Amsden, 1989). On that year also, development and training with tax incentives, low-cost loans and direct subsidies promotion were provided by the Ministry of Trade and Industry (MTI). Samsung, as one of the chaebols (domestic conglomerates), was one of the companies who received these benefits from the government (Dedrick & Kraemer, 1998). 3.2 DEVELOPMENTS WITH JOINT VENTURES AND COLLABORATIONS 3.2.1 SAMSUNG’S ENTRY TO ELECTRONICS INDUSTRY - 1970s. After the SEC was established, the company was able to form a joint venture agre ement with foreign companies. First was Sanyo and Sumitomo Trading with 40% and 10% respectively as well as with NEC and Sumitomo Trading. The Samsung-NEC employees went to training in Japan for couple of months to learn the simple products assembly and with the technical assistance agreement; those employees will undergo training annually by NEC's technical experts. Futhermore, with the emergence of Samsung-Sanyo Parts in March 1973, the company was able to produce television parts with tuners, deflection yokes, transformers and