November 4, 2014 xxxxxxxxxx International Legal & Ethical issues Summary
Cadmex is considering working with the company Gentura for a sublicensing agreement on a new anti-diabetic drug for exclusive marketing rights. Cadmex has to take into consideration the international laws and ethical issues that could come into effect when dealing with Gentura and the country of Candore.
Some of the issues that could come into effect legally are the changes in legislation within the country Candore at any given time, clashes of interest, and ethical dilemmas. Cadmex needs to make sure that their contract is legally forcible in case of any legal issues in the future. Candore is a country growing fast, and while the country has formal diplomatic relations with 23 countries, the country is still run under a dictatorship. This type of ruling in the country can cause legal issues in the future because the president of the country can change the rules and laws on a whim.
Factors that could work against CadMex’s decision to go into business with Gentura are the fact that Gentura is in the country of Candore that has a major stake in the company itself. Candore also is not a signatory to the Contracts for the International Sale of Goods (CISG). CISG was created to make international business transactions easier to deal with if any legal issues arise. Candore created its own form of contract for internal business called the Candorean Regulations for Technology Import Contracts (CRTC). Candore feels this contract is fair, but because Candore is a fairly new and…