Free Paper Sample: International Commercial Law and Its Implications to Middle East Economies

Background Information

The foundation of every business is a set of the framework which does not consider where it is conducted. There are laws and policies which guide how businesses operate. The laws are based on various options that proprietors provide. It is these proprietors who identify what suits a particular business. Some of these options that proprietors offer are taxation, business information, business flexibility, confidentiality, security and privacy of business information; and financial sources. Every business should be conducted within a legal structure and framework. It is the legal structure and the business framework that are the driving forces for business conduct (Bunn, 1999).

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The international commercial law provides strategic plans where many companies, businesses, and firms can enter into the new market across borders. The laws also protect policies that various governments set to safeguard intellectual property, licenses, and foreign investments. International commercial laws emphasize the private and public sectors of business environments.

There are also various economic, cultural, political and social factors which significantly impact international commercial laws, and they offer variations in attitudes towards the different laws. These laws and policies influence the manner in which people conduct their various business transactions internationally and also have direct impacts on business relations between countries.

Problem Statement

Modern business environment encounters some challenges that arise due to globalization. Some of these challenges include heightened customer expectations, costs, inconsistent moral standards, cultural rifts among other challenges. Many governments have collaborated to develop mutually beneficial trade policies to promote international trade and business transactions. The foremost problem of this inquiry will be to explore the implications of international commercial law.

The objective of the Study

1. To establish the meaning of the international commercial law
2. To identify the implications of commercial laws in the national context of Middle East economies

Research Questions

1. What is international commercial law?
2. What are examples of international commercial laws?
3. What are the implications of commercial laws in Middle-East economies?

Justification and Significance of the Study

The research will bring light to the implications of international commercial laws on the economies of Middle East to help to curb the commercial challenges of globalization.

The scope of the Study

The study will cover the Middle-East regional economic bloc. Countries in this region include Israel, Syria, Turkey, Iran, Saudi Arabia, Iraq, United Arab Emirates, Qatar, Cyprus, Jordan, Palestine, and Kuwait. The study will, however, focus on only three countries-Saudi Arabia, Egypt, and Israel. Literature Review

Globalization has significantly impacted business and trade environments, and this facilitates the development of multi-national enterprises. It directly affects international trade in various ways. Globalization facilitates integration and communication, thus making the world to be a global village. When countries are integrated, trade is facilitated through the reduction of transport and communication costs. It also breaks down possible artificial barriers which may exist and hinder the free flow of business transactions. Some of these transactions include the flow of goods and services across markets, capital, knowledge, and information through enhanced communication and also people across borders.

The international commercial law relies on the developmental rights. The United Nations adopted the affirmation for developmental right as early as 1957. There is a close relationship between the apprehension of economic growth and development and human rights and freedom. Bunn (1999) defines developmental right as "an alienable human right by which every human person and all peoples are entitled to participate in, contribute to, and enjoy economic, social and political development in which all human rights and fundamental freedoms can be fully realized."

Meyer and Peng (2016) assert that every human must promote appropriate social, political and economic order for development. Different countries have come together in the spirit of globalization to set up strategic plans for primary market entry of many businesses. As a result, the international commercial law is formed to facilitate development. International commercial laws promote cooperation and eliminate possible developmental obstacles. The laws also ensure that the rights of the parties involved are not violated. The laws therefore eliminate such massive violations of rights. Every country is mandated to respect the principles of international commercial laws to enhance friendly relations and cooperation among various governments. The laws enhance global respect for, and adherence to all human rights and fundamental freedoms.

Subedi (2016) explains that management of international business transactions requires well-structured strategies and better implementation mechanisms which increase trade risks. There are also many illegal businesses which exist and may hinder smooth operations. International commercial law originates from the customs, international conventions, multilateral ties and agreements which unite to form a unified commercial framework that provides a good environment for trade and market. When people engage in business transactions and trade, globalization of market forces is enhanced. Meyer and Peng (2016) add that the introduction of various commercial laws helps in regulating business transactions which directly contributes to the growth and development of regional trade. These activities improve international trade.

Subedi (2016), Meyer and Peng (2016) and Bunn (1999) all agree that various risks exist in international trade. Some of these risks include language barriers, customs tariffs and traffic laws, political influences and global hostility. There are also international legal actions and practices, trade controls and investment restrictions. These are the significant areas of concern of management and international commercial laws. The primary forms of international business include exports, imports, license agreement transfers, patents legal protection and other types of intellectual property.

Research Methodology

The chief aim of this proposal will be to isolate the implications of commercial laws in the national context of Middle East economies. The data will be collected from the accessible literature. This literature will help in understanding international commercial laws. The proposal will also elucidate the implications of commercial laws in Middle-East economies. The proposal will gather quantitative and qualitative data.

Goals

This proposal will analyze, explore and describe the implications of commercial laws in the national context of the Middle East. The project will improve a deep understanding of the international commercial law.

Content Analysis

Content analysis will be the principal research methodology. The research will analyze various reports which touch on the issue of international commercial laws and its implications in the national context. Content analyses will also look at previous published works and reports which look at how trade is conducted in the Middle East. The reports will help in understanding the impact of globalization on economic development, and how it leads to the formation of international commercial laws.

Possible Challenges

The challenges that are likely to be encountered during the study will be limited sample size. The research will be costly to conduct quantitative research since it targets a wide range of participants. The research is also likely to encounter self-selection biasness where respondents would not be willing to participate in the study.

References

Bunn, I.D., 1999. The right to development: Implications for international economic law. Am. U. Int'l L. Rev., 15, p.1425

Meyer, K. and Peng, M.W., 2016. International business. Cengage Learning.

Subedi, S.P., 2016. International investment law: reconciling policy and principle. Bloomsbury Publishing.