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Cad Mex Pharma is a United States corporation wanting to do business within a different country. Multiple issues will arise according to the simulation concerning business ethics and legal issues. During this simulation it was determined that the "Candorean Regulations for Technology Import Contracts," was best suited to cover the issue of intellectual property. This was due to this court system understanding the idea of intellectual property and being more specific in defining the criteria for a foreign country to do business within the country. The first of these is Forum select. A forum select clause dictates how conflicts that arise are handed.
Most form contracts for businesses contain a clause that provides a place where lawsuits will be filed in the event the parties' relationship sours. These clauses are referred to as "forum selection clauses" and are typically found in what is commonly called "boilerplate" language.
If you are a Mississippi company and the author of the contract, you would likely prefer to have to litigate your dispute at home rather than in a court in another state or country (Johnson, 2000).
The language of the contract might state where and what court will have jurisdiction over the issues and any time constraints to bring a suit. Unless otherwise stated it may not preclude the court case going to more then one venue. This also might include how alternative dispute resolution will be handled if stated in the contract.
Starting a business in a foreign country can be difficult. The law is different and it can work against the developer. International business problem can occur due to change in legislation, clash interest, ethical dilemmas. Cultural and ethical difference will arise depending on how the law and...