Different countries have different legal systems that should impact a company’s decision to do international business. Some countries limit foreigner’s ability to conduct legal action against their citizens. Pick a country and analyze the type of legal system the country has (common law, civil law, or theocratic law).
The country I chose to analyze is Singapore. I found Singapore to be a great hub for any business needing a presence in Asia. Singapore has kept many of the British law practices since it gained independence. The legal system of Singapore is based on the English common law system (“Law of Singapore,” n.d.). Singapore has since evolved into a unique jurisprudence, with an awareness of business practices for international
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There is a Supreme Court and subordinate courts. Also, as business is concerned, it has a very enforceable legal system. I would say that these are the only similarities. Behind the scenes, there are quite a few differences. The U.S. has jury’s (peers) that determine if the accused is guilty or not. Singapore eradicated jury trials and gave the power to the judges (“Judicial system of Singapore,” n.d.). Citizens experience a better judicial process than most of Asia. However, unlike the United States, Singapore’s government still can use its judicial power to discourage the people from speaking out against the government or press. Singapore also practices corporal and capital punishment, and it is the responsibility of the accused to prove innocence. In Singapore there is a real threat that many innocent citizens are punished or executed wrongfully. In the United States the rights are meant to protect the innocent. They should be considered innocent until proven guilty. Also, when the accused is found guilty within the United States, they still have legal …show more content…
For 2015 Singapore currently has a ranking of number 1. Singapore also ranked number 1 in 2014 as well. Taxes, trading, contract enforcement, property registering, and resolving insolvency are all highly ranked in comparison with other countries (http://www.doingbusiness.org/data/exploreeconomies/singapore/). Singapore’s foundation of common law is a promising aspect within Asia as well. I also like Singapore’s proximity to China and India. Conducting business in Singapore could serve as a hub to other Asian markets. I also believe that the strict laws are a plus. Criminal acts are relatively low, and if an incident were to occur, the business is able sue if
In this article, a young American boy, Michael Fay, who lived in Singapore, was convicted of vandalism and was sentenced to a flogging. The author of this article, Mike Royko, was American, and was on Fay’s side, he thinks that a flogging is wrong.
Facts: Two residents of Virginia, Mildred Jeter a colored woman and Richard Loving a white man, got married in the District of Columbia. The Loving's returned to Virginia and established their marriage. The Caroline court issued an indictment charging the Loving's with violating Virginia's ban on interracial marriages. The state decides, who can and cannot get married. The Loving's were convicted of violating 20-55 of Virginia's code.
Since the dawn of time for a society to work it needs to have a level of structure that applies to everyone and is understood by everyone. Australian legal system is broad and complex. It is the nature of the encompassing laws and regulations which reflect how people, organisations and governments behave on the many different levels of operation and these are created to make sure that everyone understands their rights and obligations. There are two sources of Law in Australia: Statute Law regulated by Parliament and comprise of legislations and acts; and Judge-made Law or Common Law where decisions made by judges are based on previous cases.
Many business owners and entrepreneurs are doubtful about the global opportunities available to their business. In other words, business owners don’t give consideration to the world markets, instead they tend think locally in terms of gaining customers. This doubt however is unfounded. The international trade commission reported that 70% of the world’s purchasing power and 95% of the world’s consumers are located outside of the United States, which means that there is a massive market that is currently untapped by 99% of business in America. In addition to doubt, there is the uncertainty about exporting to other countries, this uncertainty may stem from lack of knowledge about foreign trade and the international laws. A business owner may be uncertain about how, when, where, and to whom it is legal to ship their products. Although, this uncertainty is understandable it is not required for businesses that are conducting business legally within the United States, business owners should remain mindful of this so that they can push their uncertainties aside. The last factor that deters businesses from international trade is Fear. Fear that there will be unforeseen and uncontrollable issues with transporting goods such as: theft, loss, damages, diversions, and/or regulatory penalties that may be imposed on the business. Although, there is a
The Australian Legal System has a rich and detailed history dating from 1066. Law is made in Parliament. We have four sources of law and three courts with different jurisdictions that interpret the law when giving out justice. Important doctrines act as the corner-stones of our legal system. There is a procedure in the courts for making appeals. Separation of powers exists between officials in the courts, the parliament and the Executive. Everyone in Australia is treated equally under the Rule of Law, no matter their office or status. The Law is always changing as society changes, but it can never be perfect and cannot please everyone.
The next section will illustrate the way in which separate commerce businesses function in the international legal atmosphere and to recognize any of the domestic and worldwide matters, which affect the assorted industry configuration and how those concerns can be successfully handled. Lastly, the paper will contain information about Sport Bar Franchise documents that are needed to initiate the business in the state of Maryland.
Hill, C., Wee, C. and Udayasankar, K. 2012.International Business:An Asian Perspective. 8th ed. Singapore: McGraw-Hill.
Comparative advantage means that an industry, firm, country or individual are able to produce goods and services at a lower opportunity cost than others which are also producing the same goods and services. Also, in order to be profitable, the number in exports must be higher than the number in import. From the diagram we seen above, Singapore is seen to have a comparative advantage in some services. The services are Transport, Financial, business management, maintenance & Repair and Advertising & Market Research, etc. These export services to other countries improve the balance of payment. On the other side, Singapore is seen to have a comparative disadvantage in some services. The services are Travel, Telecommunications, Computer & Information,
In the year 2007, China and India ranked first and second respectively in the list of ideal foreign direct investment (FDI) destinations, according to A T Kearney, a global strategic management consulting firm (The Press Trust of India Limited, 2007a). The two nations, because of their similarities in geopolitical, economic and demographic aspects, are often compared with each other. To determine which one is more attractive for businesses to expand to, this essay will examine the business environment of both countries from the following perspectives: political/legal, economic, socio-cultural and technological.
When it comes to doing business internationally the decision making is more complex. There are many interactions between each country that need to be addressed. In order for a business to be successful in the international market they need to examine and analyze all the facets of their company. They need
The Employment Act in Singapore is an act that covers every employee who is under the contract of service to their employer except employees engaged under managerial and executive levels or domestic workers. If either party intends to end the contract, they may do so with a notice of their motive of termination. Employees may need to serve a notice period before leaving, which ranges from 1 day to 1 month.
The research conducted within this document will look at the various areas considered by someone before venturing in to another country for a business, regardless how well he or she know the specific business. As the information is gathered as well as imported in to tables for visual comparison, one can see that there are many similarities and the possibility of success via such a business seems possible.
Nowadays, business is set in a global environment. Companies not only regard their locations or primary market bases, but also consider the rest of the world. In this context, more and more companies start to run multinational business in various parts of the world. In this essay, companies which run multinational business are to be characterized as multinational companies'. By following the globalization campaign, multinational companies' supply chains can be enriched, high costs work force can be transformed and potential markets can be expanded. Consequentially, competitive advantages of companies can be strengthened in a global market. Otherwise, some problems are met in the changed environments in foreign countries at the same time. The changed environments can be divided into four main aspects, namely, cultural environment, legal environment, economic environment and political system problems. All the changed environments make problems to multinational companies. In particular, problems which are caused by changed culture environment are the most serious aspect of running a multinational business. This essay will discuss these problems and give some suggestions to solve them.
In any type of business agreement two countries plays a key role in success rate of an organization. If a firm, wants to start a business globally, it’s very important to learn about the practices, rules and regulations of a country and after that they have made an agreement with them, otherwise it leads to huge loses for a firm. There are mainly three types of principle that a company should be aware: