Legal and Political Environments

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Legal and Political Environments

The legal and political environments of global markets differ by country and often by region within a country. Global marketers must be aware of each environmental risk in global markets and develop contingency plans to overcome them.

Legal Environment

Clearly, the global legal environment is very dynamic and complex. It is the result of three forces: international law, U.S. domestic law, and legal requirements of host nations. According to Czinkota and Ronkainen, (2004), when a marketer conducts international marketing transactions with a country, it is very imperative that managers know and remain abreast of the policies and regulations of that country. Whether a firm is located abroad or domestically, it will be subject to government policies and the legal system. However, even though many of these laws and regulations do not pertain to international marketing transactions, they can have a major impact on a firm’s opportunities abroad.

Therefore, the best course to follow is to get legal help. However, the astute, proactive marketer can do a great deal to prevent legal conflicts from arising in the first place, especially concerning the following legal issues such as establishment, jurisdiction, environmental superfund, intellectual property rights, counterfeiting, antitrust, licensing and trade secrets, bribery, gray market, trade sanctions, and embargoes. Further, the services of counsel are essential for addressing these and other ...

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