Page 77 - DMGT547_INTERNATIONAL_MARKETING

International Marketing Ashwani Panesar, Lovely Professional University

Notes Unit 4: International Legal Environment

CONTENTS
Objectives

Introduction
4.1 Legal Systems

4.2 Legal Environments
4.2.1 Bribery
4.3 Legal Forms of Organisations

4.3.1 Intellectual Property
4.3.2 Counterfeiting
4.4 Money Laundering

4.5 Foreign Exchange Management Act, 1999 (FEMA)
4.6 Summary
4.7 Keywords

4.8 Review Questions
4.9 Further Readings

Objectives

After studying this unit, you will be able to:
Distinguish between Common Law and the Statute Law.
Understand the legal systems of the various countries while dealing with international
marketing.
Distinguish between tariffs, subsidies, corruption, bribery, grey market and black market.
Understand the legalities of counterfeiting trade market by bringing legalities conforming
to intellectual property rights, copyrights, trade marks, industrial designs and geographic
appellation.

Understand money laundering and FEMA as it pertains to international marketing.
Introduction

There are wide variations between countries n the policies and regulations regarding the conduct
of the business.

Example: Certain trade practices or promotional methods/strategies allowed in some
countries may be regarded as unfair by the laws of some other countries.

In many countries there is a lot of restriction n the use of the media. Radio and Television, in
particular are under State monopoly or under strict state control in a number of countries. The

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