GOVT S-1745 Study Abroad in Venice, Italy: Introduction to International Business Law
In today's global village, business decisions are no longer local. Even the smallest company may engage in transactions that have international legal implications. As the world gets smaller the ability to access foreign markets grows ever wider. Companies may seek new sources of supply overseas, sales may cross national borders to customers located abroad, and joint ventures and other forms of direct investment in a foreign country abound. Resolving disputes arising from such operations may lead to multistate litigation and/or to arbitration. Many legal systems may become relevant in arbitration including transnational principles (such as the Unidroit Principles) or the lex mercatoria, the ongoing formation of a global law for international commercial contracts. This course is designed to introduce students to the problems affecting cross-border transactions from a legal standpoint. The course explores the international private and public law dimensions of business transactions. We examine the legal framework of international commerce, pointing out the potential constraints posed by laws, cultures, ideologies, currencies, and government policies to effective international business negotiations.