strengthened the relationship and caused for contracts to outline such changes in manufacturing requirement. To cover the purchase of illegal products a contract must be agreed upon between the companies. This is the same in the way CadMex granted sublicensing agreements. This places CadMex as the liable party in a lawsuit. Without total control over the loosely worded contracts they become vulnerable to loop holes when law suits are filed against them. When the local customs and laws conflict with the customs
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Operating an organization in a foreign country can be beneficial and profitable‚ but there are risk you must be willing to take in doing so because their laws and customs are not the same as the US. When local customs and laws conflict with the customs and laws of the organization operating abroad it becomes challenging‚ but the local customs and laws should prevail once the decision is made to operate the organization abroad. The local customs and laws must be taken into consideration and followed
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In this particular simulation‚ 3 main factors can work against CadMex’s decision: Time‚ costs and ethical/cultural issues. CadMex would be looking at a substantial investment in both time and costs in ensuring quality standards of drugs produced by sub-licensees. On the other hand‚ as CadMex establishes work processes in a different country‚ it must find a way to align its own ethical guidelines with the host country’s existing ones. When the local customs
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most cases are enforceable but they are also subject to the regulations and laws of the country the business transaction is taking place. The problem that CadMex could run into concerning sublicensing agreements is if they choose to develop them in multiple‚ by creating more of them it opens the door to multiple lawsuits. If CadMex were to forget to include the appropriate sub-paragraphs within the contracts‚ they may be held liable for any monetary damages that occur. There are a number of
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to grant sublicensing agreements? Many different factors would be against CadMex if the sublicensing were grated. For instance‚ the sublicensing companies must meet quality standars and production requirements of the ViroBlax medicine‚ the generic version of ViroBlax could become more popular than the original‚ encourage of uncontrolled piracy of drugs can raise‚ the government could declare compulsory licensing and CadMex could lose royalty payments if the
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different in other countries‚ and like Candore countries can be politically unstable. Candore lacks experience in international trade. There is limited enforcement in Candore by the United States courts. The laws of CadMex in the United States may not preside in Candore. If a problem arises CadMex reputation can be ruin and financial damage can occur and their business can suffer from it. The company can be sued and be liable for damages that may occur. Sublicensing agreements takes a lot of control away
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foreign international business‚ in this case Cadmex ’s Pharmaceutical company being granted licensing agreement. Of importance is the political and economic stability that is dictatorial nature of Candore country in which the partnering company is located. In addition‚ Candore is not a signatory to any of the major international trade conventions hence economic performance and growth may be unpredictable‚ hence affecting the alliance between the Cadmex and Gentura ’s companies. Ethical and cultural
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local laws‚ due diligence‚ and the choices surrounding law and dispute resolution must be measured in order to make good choices when performing business abroad. Through the simulation‚ there were many factors that could work against the decision for CadMex to grant sublicensing agreements but with good understanding of the law it was a good deal for the company. Laws and customs in different countries can be conflicting‚ especially when businesses are managed by the government. Resolving legal disputes
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contract negotiation process is essential. Implementing a Convention of Contracts for the International sale of Goods (CIGS) is one way to ensure rules for drafting sales and contracts are upheld in foreign nations. One factor that could work against CadMex is the political influence that is held in the Gentura company. The country Gentura is located in is Candore‚ the government owns the majority stake in the company. Candore has a court system that has recently been restructured‚ and not always been
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product that the company is making. Another example is that the foreign partner makes a new product and does not report to the other partner that also breaking the contract. What factors could work against CadMex ’s decision to grant sublicensing agreements? The factors that could work against CadMex ’s decision to grant sublicensing agreements are legal disputes. The company will be putting itself in danger through sublicensing. If the company’s products have any problems the company will be taking
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