IB0017 – International Business Environment and International Law

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DRIVE	SPRING 2015
PROGRAM	MBADS (SEM 3/SEM 5) MBAFLEX/ MBA (SEM 3) PGDPMN (SEM 1)
SUBJECT CODE & NAME	IB0017 – International Business Environment and International Law
BK ID	B1909
CREDITS	4
MARKS	60

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ASSIGNMENT

Note: Answer all questions. Kindly note that answers for 10 marks questions should be approximately of 400 words. Each question is followed by evaluation scheme.

1. Discuss the pros and cons of internationalization.

Answer: The Internet has made it possible for nearly any individual to open a business selling products or services. It has also broadened our horizons by making news, culture and business available from countries all over the globe. The ability to obtain inexpensive customer, administrative and manufacturing services from offshore companies is a boon for small companies unable to afford extra employees, plants and equipment at home. It has also tempted many small companies to try to expand internationally.

Q:2 Explain the relationship between law, business and international law. How is international law considered to be mixed in nature?

Answer: Relationship between law business and international law - International business and economic law involves the public international law and domestic law applicable to international business transactions between private parties, as well as the public international law applicable to trade and investment relations between or among states. The concerns of international economic and business law relate to the international economy, and involve sales of goods, trade in services, intellectual property licensing and protection, international finance and foreign direct investment, as well as the settlement of disputes relating thereto. This field is affiliated with international business studies and with international economic studies, and also relates to international political economy. This field also involves international organizations related

3. Discuss the laws related to regulation and promotion of foreign trade in India.

Answer: The Foreign Exchange Management Act, 1999 has come into effect on June 1, 2000 and has replaced the Foreign Exchange Regulation Act, 1973 (FERA). FEMA is a civil law. FEMA defines capital account and current account transactions, while power is delegated on Reserve Bank of India to regulate capital account transactions. FERA was a criminal law and the act was very drastic. It provided imprisonment for even a minor offense. Under this Act a person was presumed guilty unless he proved himself innocent. With liberalization, an urgent need was

4 Write short notes on:

a. Export cartels

Answer: - Export cartels are exempted from the competition laws of most countries. While some scholars and several WTO members have recently condemned such cartels, others have argued that they allow efficiency gains that actually promote competition and trade. This paper examines the various issues involved, with special reference to developing countries and to recent discussions on trade and competition policy. After summarizing the contending views on export cartels, and also the scanty theoretical literature

b. Customs valuation

Answer- Customs valuation in India is covered by the Customs Valuation Rules, which are modelled on the World Trade Organisation (WTO) valuation rules.

The WTO valuation rules provide that all payments made by the buyer as a condition of sale of the imported goods should be

Q:5 How does the TRIPs agreement protect IPRs? What are the 7 intellectual properties defined in TRIPs? 

Answer-

·         TRIPS-The Agreement on Trade-Related Aspects of Intellectual Property Rights (TRIPS) is an international agreement administered by the World Trade Organization (WTO) that sets down minimum standards for many forms of intellectual property (IP) regulation as applied to nationals of other WTO Members.^[2] It was negotiated at the end of the Uruguay Round of the General Agreement on Tariffs and Trade (GATT) in 1994.

IPRs The Indian Placement Reporting Standards

Q6 .Which are the various kinds of investment treaties and how do they function?

Answer – Investment treaties - A bilateral investment treaty (BIT) is an agreement establishing the terms and conditions for private investment by nationals and companies of one state in another state. This type of investment is called foreign direct investment (FDI). BITs are established through trade pacts. A nineteenth-century forerunner of the BIT is the friendship, commerce, and navigation treaty (FCN).^[1]

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