Download - Legal factors
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INTRODUCTIONLegal Environment refers to legal
system obtaining in a country. The legal system of a country thus refers to the rules, or laws, the regulate behavior along with the processes by which the law are enforced and through which redress for grievances is obtained.
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SEVERAL ISSUES OF LEGAL SYSTEMS
Different legal systems Differences in contract law Property rights (IPR) The protection of intellectual property
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1) DIFFERENT LEGAL SYSTEMS Common law system-
it is based on tradition, judgment made, and usage in the court assign a position to existing cash flow of guide dispute resolution.
Civil Law System-it is based on systematic and extensive
codification of law.
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Theocratic Law system-this law system relies on religious and
spiritual principles to define legal environment.
Customary Law System-this law system anchors itself in the
wisdom of daily experience or great spiritual or philosophical traditions.
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2). DIFFERENCES IN CONTRACT LAW
Common law v/s Civil Law-
Common law system have the advantage of greater flexibility and allow for judges to interpret a contract dispute in light of prevailing situation.
Civil Law had a common law system may be back fire or vice-versa.
CISG(Convention on Contracts For International Sale of Goods)-
main aim of CISG is to settle a contract of dispute between seller and buyers.
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3). PROPERTY RIGHTS Private Action-
it refers to theft, piracy, blackmail, and like by private individual or groups.
Public action and corruption-property rights occurs when public
officials such as politicians, extort income or resources from property holder.
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4). PROTECTION OF INTELLECTUAL PROPERTY AND
ITS REGULATIONSo IP refers to product which is intangible, that
is computer software or the chemical formula for a new drug.
o Intellectual Property includes Patents, Copyrights, Trademarks, etc.
o It differs from country to country because every country have its different rules and regulations.
o Paris convention for the Protection of Industrial Property, signed in Paris, France on March 20, 1883. by 96 countries for the protection of intellectual property.
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