International Business Market Assignment Sample
Introduction
It is seen that the following business law is very much important for protecting the rights and liabilities in the business. Therefore, in the case of business expansion, it is very much important to get the necessary guidance from the solicitor. It is only because the solicitor has the ability to protect the business from various disputes with the right guidance at right time.
Potential issues and the process of dealing that issues
It is seen as Mighty Armour Ltd has entered the international business market recently therefore the business need to be aware of a few legal issues and its solutions. The major problem that business witnesses in the expansion are the licencing problem. In many cases, the avoidance of licencing process of the many businesses results in paying an additional amount of money to the government. In order to address this problem, Mighty Armour can approach the UK licensing department. It is seen that UK licencing department has various legal bodies providing the licences [1]. FCA or “Financial Conduct Authority” helps in providing the license on financial transactions. Likewise, PPL is the licencing company of music in the UK, and DVLA provides the license for driving vehicles in the UK. It is witnessed that as the company is producing the armoury therefore the business needs an armoury production licence and a driving license financial license to make the financial traction with other countries. It is seen that as the business is shifting its focus on the international market therefore the business needs to look for other countries licencing authorities and policies to smoothly run the businesses.
The second most important issue that a business face in the international business market is the trademark. It is seen in the modern time various businesses are evolved that runs businesses illegally under the name of other business. In order to prevent these issues, the trademark of the business can help[2]. It can help the company prevent the copying of the armoury products by the various other international armoury production companies. In this case, the company can follow the provisions of the “Trade Marks Act of 1994”.
The third major issue that the business can face in the international business is the various labour laws. It is seen that the labour law act helps to protect the duties and the rights of the company employee. Further, it also addresses the various issues faced by the employee in the workplace. It is witnessed that various countries have their own labour acts for securing the employee. Therefore, it can be complex for the company to follow each of them. In this case, the company can follow the 1955 “ Employment Act” act of ILO which has a clear mention of the labour standards at the international level, therefore, it can be applied in any country in the world[3]. Further, following this act can help the company to maintain a good relationship with the company and its employee in the international business.
Alternative dispute resolution mechanism
“Alternative Dispute Resolution” or ADR indicates the private mechanisms that do not follow the court system. It is seen that as the Mighty armour other businesses are also eager about the ADR system for resolution of their disputes because through the use of a single procedure it resolves the disputes of the companies in the international business. Therefore, it requires a lower cost and through this ADR it is possible to cut down the chances of inconsistent results[4]. It can also be seen that unlike the Court system ADR enables both the parties to provide their own views on the disputed matter. In civil cases, the three main types of ADR can be followed are arbitration, mediation and conciliation.
In the Arbitration process, it is witnessed that both the parties involved in a particular dispute agree to present the dispute in front of a third party. In this case, the third party or the neutral arbitrator enables both parties to present their views through their individual lawyers. The arbitrator based on the logic presents final decisions which are binding in nature. The arbitration process in this system has basically come under the law of the Uncitral model[5]. It is seen that as the various countries are practices this arbitration process through the years therefore it can easily applicable in many international business situations.
Another type of ADR is mediation however, this process is more passive in nature than the arbitration process. It is only because in this case, the mediator is not giving any kind of final decision rather the mediator only gives the suggestion to mutually settle the disputed matter. The mediator, in this case, helps both parties to identify their individual priorities and interest. Therefore, in this way, a suitable environment for the negotiation is created.
The conciliation process represents the dispute resolution system in which the third party or the neutral party plays a major role. It is after analyzing the situation the conciliator prepares an agreement that satisfies both the parties. However, before presenting the final agreement the conciliatory creates a proposal and based on the responses the conciliator recreates various terms mentioned in the proposal and thereby presents the final solution.
The benefits of choosing arbitration over litigation
There are various benefits that the company gets from arbitration rather than the litigation system. The first and the vital benefit that arbitration provides over litigation is that in ADR through single production the disputes are resolved. While in the case of ligation it is seen that through the various proceeding the expenses are very high[6]. Further, in the litigation, there is a chance of complexity with the use of multi-jurisdiction[7]. It is because of this the results that are get are inconsistent in nature.
The second benefit that the arbitration process provides is neutrality. It is only because in the litigation court process any of the parties can gain the advantages of home court. Further, it can also see that a person with a good relationship can help the person to get the advantages in the proceedings which does not happen in the case of the arbitration system.
It can also be seen that as the proceeding of ADR is private therefore it helps both the parties to confide their personal identity and the results get by both parties in the proceedings. It can help both parties to maintain their commercial reputation in society and in business trade. However, in the litigation system, it is seen that the judgement is done in front of the public, therefore, the company or businesses can face the issues from the reputation.
It is seen that in the arbitration process the finality of the judgement is certain and can be built in only one round. However, in the litigation system, it is witnessed that after many rounds of judgement in many cases there is no finality of the judgement.
Ad hoc and institutional arbitration
Ad hoc Arbitration
This arbitration process refers to the procedure in which the arbitrator and the involved parties freely determine in which procedure they will get the solutions. Therefore, there is no requirement of the arbitral institution. It is because of the flexibility of the nature of the involved parties in choosing the arbitration system that helps to get the speedy results than the institutional arbitration system. However, it can vary the timings in case both parties are facing issues in the conduct of the arbitration tribunal[8]. In modern times it is seen that the lawyers of the various countries are following the Ad hoc arbitration because they believe that any institutionalized arbitration is required to prove the arbitration system valuable[9]. It is seen that in the ad hoc arbitration the clauses that are used in the proceeding are amended many times so that better results can be gained through the use of this. Therefore, the company need not worry about the limitation of this system. It is seen that in the business the resolution system of some disputes needs to be done in a hasty manner[10]. The continuation of the disputes for a longer period can affect the overall business operations. Therefore, the majority of the businesses give the first priority to the Ad hoc arbitration system.
Institutional arbitration
Institutional arbitration generally indicates an institution and its institutionalized rules to make arbitration. In the Instutationalized arbitration system, it is founded that the rules are pre-specified. However, in the Ad hoc arbitration, the rules are prepared according to the specific situations and are subject to amendment in case any changes are required for a better application. Unlike the Ad hoc institutionalized arbitration system has a fixed timetable for conducting the arbitration. The scrutiny of the situation is done by the expert staff of the institution. In case of cost, it is seen that in the institutionalized arbitration system both the and administer fees are required. However, Ad hoc, only requires the fess of the arbitrator therefore, it can clearly say that the cost of the institutionalized arbitration is a bit higher than the Ad hoc. In addition to these, it is witnessed that the, however, the institutionalized arbitration is much costlier than the Ad hoc but still it delays the proceedings because of a huge number of formalities associated with the institutionalized arbitration[11]. Further, the other major disadvantage of the institutionalized arbitration is both the parties can express themselves are they are said to do so. Therefore, many of the witnesses remained unused by both the parties in this system.
The process of selecting an arbitrator
It is seen that in modern times the disputes in the internal business are becoming more complex in nature. Therefore, in this case, the choosing of the right arbitrator for the right issues is very much required. In the case of international arbitration, it is seen that the arbitrator is decided by a three-member panel. In this case, both of the party select one specific arbitrator and therefore the final or the presiding arbitrator is selected by the agreement between them in front of the three-member panel. It is seen that in the arbitration selection process the counsel made deep research on the nature of each arbitrator. It is through this the counsel gives the options to both parties an arbitrator that is competent, efficient and knowledgeable [12]. The arbitrator needs to qualify on the arbitral skills which help to choose a better arbitrator and to better implement the arbitration system. Therefore, the arbitration process of arbitrators can be divided into many steps. The first step is known as initiation and filling in among the parties one party can file for the demand of arbitration[13]. The second step is known as the selection of arbitration in which both the parties make a selection of an arbitrator based on the requirements of the dispute. The third step is known as the preliminary hearing in which both the parties are called to discuss the witness and case issues and exchange the essential information[14]. In the fourth step based on the information, it is handed over to the arbitrator and based on this the arbitrator awards the parties. In the arbitration process, the arbitrator possesses the power to determine the procedural and substantive issues attached to the disputes[15]. In case Mighty Armour Ltd followed this process both the selection of the arbitrator and the arbitration system the company can successfully address all the future disputes in a more effective way.
Conclusion
On the concluding note, it can be seen that the awareness of the potential issues helps the Mighty Armour company to prepare strategically functions of its business. Further, following this cab help the business to secure itself from the various legal barriers. The use of various ADR systems helps the company to speedily solve the dispute rather than the litigation system of court. Further, the differences between the Ad hoc and the institutionalized arbitration help the company choose the suitable arbitration system for them. The process of selecting the arbitrator will help the company to easily select a suitable arbitrator for its future disputes.
Reference List
Alaloul, Weshttps://uniquesubmission.com/wp-admin/am S., R. D. Wirahadikusumah, Mohammed W. Hasaniyah, Bassam A. Tayeh, B. Hasiholan, and P. Kusumaningrum. “A comprehensive review of disputes prevention and resolution in construction projects.” In MATEC web of conferences, vol. 270, no. 270 (2): 05012. EDP Sciences, 2019.
Bookman, Pamela K. “The Arbitration-Litigation Paradox.” Vand. L. Rev. 72 (2019): 1119.
Cole, Sarah Rudolph. “Arbitrator Diversity: Can It Be Achieved?.” Wash. UL Rev. 98 (2020): 965.
Devaney, James. “Selecting investment arbitrators: reconciling party autonomy and the international rule of law.” (2019).
Ganesan, Yuvaraj, Hasnah Haron, Azlan Amran, and Anwar Allah Pitchay. “It is the External Accountant Matter in Business Performance of Small and Medium Enterprises? The Role of Non-Audit Services.” International Academic Journal of Accounting and Financial Management 5, no. 4 (2018): 36-48.
Green, Michael Z. “Arbitrarily Selecting Black Arbitrators.” Fordham L. Rev. 88 (2019): 2255.
Guillaume, Cécile. “When trade unions turn to litigation:‘getting all the ducks in a row’.” Industrial Relations Journal 49, no. 3 (2018): 227-241.
HASAN, MOHAMMAD ALI, and MOHAMMAD INZAMUL HAQUE. “Choosing Institutional Arbitration over Ad-Hoc Method: A Critical Analysis.” (2021).
La Rue, Homer C., and Alan A. Symonette. “The Ray Corollary Initiative: How to Achieve Diversity and Inclusion in Arbitrator Selection.” Howard LJ 63 (2019): 215.
Lüdeke-Freund, Florian, Sarah Carroux, Alexandre Joyce, Lorenzo Massa, and Henning Breuer. “The sustainable business model pattern taxonomy—45 patterns to support sustainability-oriented business model innovation.” Sustainable Production and Consumption 15 (2018): 145-162.
Muhammad, Nasiruddeen. “Resolution of Maritime Disputes: Ad-hoc vs Institutional Mechanisms.” In International Conference on Advances in Business and Law (ICABL), vol. 2, no. 1, pp. 189-192. 2018.
Obi, Ndifon Neji. “Resolving Political Party Disputes through Alternative Dispute Resolution.” Journal of Political Science and Leadership Research 4, no. 4 (2018): 28-41.
Olujobi, Olusola Joshua, Adenike A. Adeniji, Olabode A. Oyewunmi, and Adebukola E. Oyewunmi. “Commercial Dispute Resolution: Has Arbitration Transformed Nigeria’s Legal Landscape?.” J. Advanced Res. L. & Econ. 9 (2018): 204.
Reams, Lester C. “Arbitration vs Litigation–Has the Business Mindset Used the Mandatory Arbitration Clause/Agreement to Compromise the Right to Trial to Resolve Business Disputes in the United States.” Bulletin of Taras Shevchenko National University of Kyiv. Public Administration 11, no. 1 (2019): 23-35.
Russell, Penelope. “Willingness to innovate in family law solicitor practice in England and Wales: a qualitative study.” Journal of Social Welfare and Family Law 41, no. 2 (2019): 153-170.
[1] Alaloul, Wesam S., R. D. Wirahadikusumah, Mohammed W. Hasaniyah, Bassam A. Tayeh, B. Hasiholan, and P. Kusumaningrum. “A comprehensive review of disputes prevention and resolution in construction projects.” In MATEC web of conferences, vol. 270, no. 270 (2): 05012. EDP Sciences, 2019.
[2] Lüdeke-Freund, Florian, Sarah Carroux, Alexandre Joyce, Lorenzo Massa, and Henning Breuer. “The sustainable business model pattern taxonomy—45 patterns to support sustainability-oriented business model innovation.” Sustainable Production and Consumption 15 (2018): 145-162.
[3] Ganesan, Yuvaraj, Hasnah Haron, Azlan Amran, and Anwar Allah Pitchay. “It is the External Accountant Matter in Business Performance of Small and Medium Enterprises? The Role of Non-Audit Services.” International Academic Journal of Accounting and Financial Management 5, no. 4 (2018): 36-48.
[4] Obi, Ndifon Neji. “Resolving Political Party Disputes through Alternative Dispute Resolution.” Journal of Political Science and Leadership Research 4, no. 4 (2018): 28-41.
[5] Russell, Penelope. “Willingness to innovate in family law solicitor practice in England and Wales: a qualitative study.” Journal of Social Welfare and Family Law 41, no. 2 (2019): 153-170.
[6] Bookman, Pamela K. “The Arbitration-Litigation Paradox.” Vand. L. Rev. 72 (2019): 1119.
[7] Guillaume, Cécile. “When trade unions turn to litigation:‘getting all the ducks in a row’.” Industrial Relations Journal 49, no. 3 (2018): 227-241.
[8] HASAN, MOHAMMAD ALI, and MOHAMMAD INZAMUL HAQUE. “Choosing Institutional Arbitration over Ad-Hoc Method: A Critical Analysis.” (2021).
[9] Olujobi, Olusola Joshua, Adenike A. Adeniji, Olabode A. Oyewunmi, and Adebukola E. Oyewunmi. “Commercial Dispute Resolution: Has Arbitration Transformed Nigeria’s Legal Landscape?.” J. Advanced Res. L. & Econ. 9 (2018): 204.
[10] Reams, Lester C. “Arbitration vs Litigation–Has the Business Mindset Used the Mandatory Arbitration Clause/Agreement to Compromise the Right to Trial to Resolve Business Disputes in the United States.” Bulletin of Taras Shevchenko National University of Kyiv. Public Administration 11, no. 1 (2019): 23-35.
[11] Muhammad, Nasiruddeen. “Resolution of Maritime Disputes: Ad-hoc vs Institutional Mechanisms.” In International Conference on Advances in Business and Law (ICABL), vol. 2, no. 1, pp. 189-192. 2018.
[12] Cole, Sarah Rudolph. “Arbitrator Diversity: Can It Be Achieved?.” Wash. UL Rev. 98 (2020): 965.
[13] Devaney, James. “Selecting investment arbitrators: reconciling party autonomy and the international rule of law.” (2019).
[14] La Rue, Homer C., and Alan A. Symonette. “The Ray Corollary Initiative: How to Achieve Diversity and Inclusion in Arbitrator Selection.” Howard LJ 63 (2019): 215.
[15] Green, Michael Z. “Arbitrarily Selecting Black Arbitrators.” Fordham L. Rev. 88 (2019): 2255.
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