Laws That Regulate International Business

In September 2002, in the magazine Foreign Policy, Kofi Annan, the Secretary-General of the United Nations and recipient of the 2001 Nobel Peace Prize, wrote a long article talking about the new globalization of laws:

what binds us into an international community? In the broadest sense, there is a shared vision of a better world for all people. . . there is a sense of common vulnerability in the face of global warming and the threat posed by the spread of weapons of mass destruction. There is the framework of international law, treaties, and human rights conventions (Koffi, 2002, 12).

This paper will focus on international business law only, and will ignore the laws that have to do with crimes such as smuggling, treaty violations, customs fraud, and so on. It can be argued that those are economic crimes, but the most serious forms of redress for violations of these laws are in the criminal court systems.

International economic law is not derived from a single source or even several sources of law; it has its genesis in many. National, regional, and international law (public and private), policy and customary practices are all components of international economic law. "International economic law encompasses a wide spectrum of subjects including trade in goods and services, financial law, economic integration, development law, business regulation and intellectual property. This expansive scope presents a challenge

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onies functioned with a legal tradition known as "Common Law" where the laws were codified and made public for everyone to see and understand. Many other European nations, such as Spain, Italy and France, have a legal heritage known as Civil Law, which was law that was based on the pleasure of the king. Civil law tended to be capricious, and often unfair (Starchild, 2000). A good understanding of how to learn about the laws that can affect the business venture is to turn to the legal resources of the United States Department of Commerce which has as its mission and obligation the act of encouraging and assisting business growth, and the department maintains several organizations designed to help the American businessperson avoid unfair competition. One powerful organization within the Department of Commerce is the Bureau of Export Administration (BXA) which is charged with directing US export control policy including license applications and enforcement of US export control laws over a wide range of products, technology and software. Additionally, the BXA is the primary licensing agency for dual use exports (commercial items that could have military applications). Another powerful organization within the Department of Comm
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Approximate Word count = 1268
Approximate Pages = 5 (250 words per page)

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