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Identify Applicable Regulatory Compliance Polikcies


Submitted By dannyl100
Words 361
Pages 2
Applicable regulatory compliance requirements for business situations.
Marcie Snow, Marsha Williams, Raja Misra, Brandi Clark
25 May 2015
Susan Purvin

This paper identifies applicable regulatory compliance requirements for foreign trade to ensure protection of technology patents for foreign investors. It describes the reason it is necessary for laws to be set up, as well as procedures put in place for disputes when the laws are violated.
With so much business being done between foreign countries, it is important for laws to be in place to avoid theft or reverse engineering of product or technology. The requirement of contracts is necessary and must be set up in a way that give specific information on how these foreign trades are to take place. In giving specific information the contracts ensure understanding for the business trade between the countries for the companies doing business. With contracts in place between the companies it is easier to hold a country accountable for illegal business practices which could possibly take place. The good thing about the law, is that all contracts must be approved by the government before trade takes place. This ensures that the contracts are fair and does not violate any of the laws set in place. Due to the differences in cultural beliefs within the different countries, the laws make it easier to do trade across the nations without the disagreements that could possibly cause issues.
If a law is violated by a country then they have a right to file a complaint with the World Trade Organization (WTO). This enables any applicable trade law violations to be discussed and settled by a group of people who understand the law. Once a decision is made, based on the law the country violating the law is held accountable for their actions. There is also an appeals process based solely on the law.

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