Do you find international business law interesting and intriguing yet remain unclear as to what it encompasses? International Business involves operating a business across national boundaries or that will have an effect in another country. This includes activities such as the buying and selling of goods; investments in industries; the licensing of processes, patents and trademarks; and the supply of services. The number of corporations conducting International business is constantly changing.
As of December 31, 2014 there were 912 Foreign Companies registered and reporting with the U.S. Securities and Exchange Commission. This Information is based on the country of incorporation; the largest number was 295 in Canada.
The practice of international business law often involves a law firm that represents either a non-profit or for-profit corporation that conducts business in more than one country. When conducting business internationally, it is important to work with both a law firm that concentrate in international business law and local counsel in the target country. A firm with a concentration in international business law is better equipped to handle legal matters for corporations that operate in more than one country. Local representation will be experts with regard to local law that is conducted in that country and region and confirm that the foreign company with whom you are dealing is legitimate and reputable. Together these lawyers will be a powerful part of your legal team.
Your international business attorney will be able to help you consider both the economic and legal aspects of the international business that you are conducting or seek to conduct overseas.
Because international business almost always relates to trade or commerce, it is important to consider the economic impact of policy on specific business transactions. In addition, Jurisdiction plays a major role in international business law.
It is imperative to know the laws for each jurisdiction in order to determine which jurisdiction is best for the transaction.It is important to note that International law is divided into two major categories, public international law and private international law.
PUBLIC INTERNATIONAL LAW
Public international law, which is sometimes referred to as public law, is the classification of the rules and doctrines overseeing the conduct of, and relationships between, states and international organizations as well some of their individuals. Public international law administers the way states interact with one another, while national law governs how citizens behave within states.
PRIVATE INTERNATIONAL LAW
Private international law regulates how citizens from different states interact with regard to commercial transactions. It is also used to determine which jurisdiction will be valid in each specific legal case. Private international law must recognize and implement national laws, while at the same time, distinguishing the set of laws from each country. Countries such as the United States, in which each state has their own jurisdiction, make the practice of international business law somewhat complex.
When operating an international business it is extremely important to seek the legal counsel of a qualified international business attorney. This can prevent many problems that may later arise. The professionals at Gonzalo Law, LLC are able to provide you with assistance as well as a complimentary consultation of your international business legal matter.
DISCLAIMER: The information contained herein is not intended to be specific legal advice for your particular situation. It is meant to provide general information on the changing landscape of the law. You are encouraged to contact legal counsel for advice specific to your particular legal situation.