See the Multimedia activity on Ethics in International Business. Then read the case study about Geletx and Jed's concerns about the office in Lima, Peru. Research the Foreign Corrupt Practices Act (FCPA) and then discuss whether this situation would be a violation of FAPA. What do you think that Jed should do?
The response addresses the queries posted in 878 words with references.
//Before analyzing about the Foreign Corrupt Practices Act, we should understand the necessary requirements to be fulfilled by the business organizations, while expanding their business in foreign countries. The legal framework of the foreign countries should be understood and considered by the business organizations in the international business environment: //
When entering into a foreign country for the business, it is essential to understand the legal system of that particular country. Commercial law and export regulations are of significant importance. For the commercial law, there are common types of legal system in all countries of the world such as Common law, Socialist law and civil law and each country adds features in the legal system.
//Now, we will focus on understanding the Foreign Corrupt Practices Act, which considers the transparency in the accounting and financial transactions. The applicability of law in the US will also be discussed://
Foreign Corrupt Practices Act-
The Foreign Corrupt Practices Act was established in the US in 1977. It is a federal law that consists of two main provisions. The first provision addresses the requirements for accounting transparency under the Securities Exchange Act of 1934 whereas the second provision deals with the act of bribing the foreign officials (FCPA Enforcement, 2008).
The Act forbids the U.S. Companies, subsidiaries working under them along with their managers, directors and employees from bribing the ...
This response addresses the queries posed in 727 Words, and APA Format