Law and International Business Studies
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tional legal setting, the possibility of double and multiplejeopardyincreases the seriousnessof the violation and, thus, the need to considersuchlawsin the business decision-makingprocess. One needs to know when to request export adviceand how to rely upon such advice. A degree of knowledgeis required: a basic understandingis needed of these national laws and of peculiar legal problems relating to international contracts, joint ventures, and a host of other areas. It is clear that more and more multinational corporationsare choosing lawyers for key line positions.2 The generalrole the lawyer has assumedoverthe last twenty years hasleft him with valuable insights. These are based upon his experience with the legal method and close contact with majorpolicy decisions. These insights are helpful to the international executive in training when taking a course in international businesslaw. The following is an outline which this writer considers to be the parametersof a coursecalled "The LegalAspects of InternationalBusiness," which shouldbe requiredof all internationalbusinessmajors. 1.
2. 3. 4. 5. 6.
7. 8.
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General types of domestic legislation affecting foreign operations-tariffs, customs, exchange controls, foreign direct investment regulations,national security exceptions as to sensitive industries. Specific aspects of internationalcontracts,e.g., choice of forum clause, choice of law clause, and choice of court or arbitration. Problemsof internationalarbitrationand adjudication. Need to conform to foreign governmentregulationupon entry into the market. General differences between common law and civil law legal systems. Litigationagainstforeign governmentsin the U.S. andabroadimmunity of foreign governmentsfrom suit (doctrine of sovereign immunity) and the ability to question the validity of foreign acts (the act of state doctrine).3 Enforcementof judgmentsin the U.S. andabroad. Specific areasof domestic legislation. (a) Tax and securitiesconsideration-their extraterritorialapplication.4 (b) Antitrust and licensing problems-in both the U.S. and abroad,especiallythe E.E.C.5 General regulationby regionaland internationalorganizationproposalsand reality.6
The above topics are derived from various courses in a law school curriculum-specificially,contracts, public internationallaw, constitutional law, and conflicts of law. Another way of looking at the courseis that it is 82
an adaptation of the general internationalbusiness law course offered at some law schools. It is an adaptationin the sense that it adds a particular business dimension; it looks at the problemswhich are most often factors needed to be consideredby the businessmanratherthan the moretechnical legalproblems.It also takes a less in-depthlook at each legal areain orderto examine a greater numberof relevant topics. Most essentially, it examines the legal considerationin the context of a
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