Act of state doctrine: is a judicially created doctrine that provides that the judicial branch of one country will not examine the validity of public acts committed by a recognized foreign government within its own territory. Comity: one nation will defer and give effect to the laws and judicial decrees of another country, as long as those laws and judicial decrees are consistent with laws and public policy of the accommodating nation. Confiscation: when a government seizes private property for an illegal purpose and without just compensation.
Distribution agreement: is a contract between the seller and the distributor setting out the terms and conditions of distributorship. Dumping: is the sale of imported goods at “less than fair value. ” Dumping is designed to undersell U. S. businesses and obtain a larger share of the U. S. market. Exclusive Distributorship: is distributorship in which the distributors are given exclusive rights to distribute particular sellers’ products in specified areas. Export: there is in direct and dirt exporting.
In direct exporting a U. S company signs a sales contract with a foreign purchaser that provides for the conditions of shipment and payment for the goods. Indirect exporting happens if a business develops sufficiently in a foreign countries, a U. S. company may, through the appointment of a foreign agent or a foreign distributor develop a specialized marketing organization in the foreign market. Expropriation: occurs when a government seizes a privately owned business or privately owned goods for a proper public purpose and awards just compensation.
International Organization: refers to an organization composed mainly of nations and usually established by treaty. Most-Favored-Nation Status: each WTO member must treat other WTO members at least as well as it treats the country that receives its most favorable treatment with regard to imports or exports. Quota: are limits on the amounts of goods that can be imported. Sovereign Immunity: exempts foreign nations from the jurisdiction of the U. S. courts. Tariff: are taxes on imports.
A tariff is usually a percentage of the value of the import, but can be a flat rate per unit. Tariffs raise the prices of goods. Technology Licensing: may involve a process innovation that lowers the cost of production, or it may involve a product innovation that generates a superior product. It may be an attractive alternative to establishing foreign production facilities. Treaty: is an agreement or contract between two or more nations that must be authorized and ratified by the supreme powers of each nation.