The company Cad Mex Pharma is a pharmaceutical company that is a global leader in developing pharmaceuticals and healthcare products based out of Tampa Bay Florida. This company produces medications like over the counter drugs to antibiotics. Cad Mex Pharma is interesting in licensing a drug called pro prez, which is an anti-diabetic drug and is produced by a company called Gentura in the country of Condore. The first step that has been taken is figuring out which choice of law clause to use. Amanda used Candorean Regulations for Technology Imports Contracts, which will be, negotiated through international arbitration that is non-binding.
As a result of this Candore has become a member of the World Trade Organization or WTO. Since this has happened the president of Candore has changed the regulations of the technology import contracts. The regulations are more relaxed in hope to encourage foreign investments and trades. Since the contract was not finalized when the new regulations came into play, the Cad Mex Pharma had to rethink the situation and discuss if their first choice was still the best.
Hard Contract
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Blog entryThe reason this choice was the best is that it allowed Candorean government to relax regulations to coincide with WTO's rules.
Non-binding arbitration was the best alternative because it takes up less time and money than going through the court system. Since the finalization of the contract, Cad Mex has given marketing right of the viroblax, which is an antibiotic to Gentura. In March of 2012 a viral epidemic hits Cordore. As a result the Cordorean government wants Gentura to subsizied the drug that would be a breach of contract of the payment terms between Gentura and Cad Mex. CadMex has issued license to Gentura to develop medical agents or drugs using a technique that CadMex has developed which...