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Foreign Trade Law, Treaties and Other Issues Surrounding the Marketing and Sale of Minnesota Corporation Products and Services, as well as the Purchasing of Products and Services from Foreign Persons, Entities or Governmental Authorities - Chapter 50 - Adv
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Originally from: Advising Minnesota Corporations and Other Business Organizations - 2nd Edition - Hardcover Advising Minnesota Corporations and Other Business Organizations - 2nd Edition - Electronic
Preview Page CHAPTER 50
FOREIGN TRADE LAW, TREATIES AND OTHER ISSUES SURROUNDING THE MARKETING AND SALE OF MINNESOTA CORPORATION PRODUCTS AND SERVICES, AS WELL AS THE PURCHASING OF PRODUCTS AND SERVICES FROM FOREIGN PERSONS, ENTITIES OR GOVERNMENTAL AUTHORITIES
§ 50.01 Introduction
International trade is the exchange of capital, goods and services
across international borders or territories and has existed since ancient
times. Records from the 19th century attest to the existence of an
Assyrian merchant colony in Cappadocia, in modern Turkey,2 and
ancient Romans engaged in trade with Egypt upon conquering the
country in 30 BC3 and with India, Southeast Asia, Sri Lanka and China
along the Silk Road.4 The economic, social, and political importance of international trade
has been on the rise in recent centuries. Industrialization, advanced
transportation, globalization, multinational corporations and outsourcing
have all had a major impact on the international trade system. In today’s
economy, international trade is a major source of economic revenue for
any nation that is considered a world power. Without international trade,
nations would be limited to the goods and services produced within their
own borders. In principle, international trade is no different from domestic trade as
the motivation and the behavior of parties involved in a trade does not
fundamentally change depending on whether a transaction is across a
border or not.5 The elements of a sales contract, whether international or
domestic, include price, shipment and delivery, invoicing and payment,
remedies, termination and governing law.6 However, many additional
considerations come into play in a cross-border transaction.7 Manuals or
sales literature may need to be translated, separate international price
lists may have to be developed due to the transportation, freight and
customs duties will have to be added to the price, and after-sales
maintenance and warranties may have to be factored into the price as
well, as the costs of providing such services may be much higher in
another country.8 This chapter will provide an introduction to international trade for
Minnesota companies and will introduce the reader to pertinent treaties,
agreements and legislation that regulate international trade, provide
important considerations that a company must make before entering a
foreign market, and offer suggestions for provisions to include in
international agreements. The chapter will conclude with a list of
resources, both domestic and international, for a company or practitioner
that wants to take its first steps into the international arena.
Roger J. Magnuson is a Partner at Dorsey and Whitney, LLP, where he serves as Head of the National Strategic Litigation Group and has practiced since 1973. He has been recognized as one of the top trial lawyers in the United States by major national and international publications, including Chambers International Guide to American Lawyers, which profiles the top 500 trial lawyers in the United States, Best Lawyers in America, Who's Who in American Law, and Who's Who in America. Mr. Magnuson was also recognized by a Journal of Law and Politics' survey for Judge's Choice "Wins Most Cases."
Some high profile cases that he has litigated include representation of the Florida Senate in the Bush v. Gore election controversy in 2000; and representation of the Plaintiffs in the widely publicized and studied Mall of America case. For several years he has represented, among other persons and entities, the Minnesota Twins and Major League Baseball principals and players in litigation; and has litigated national and local cases in federal and state court venues. He has appealed before the Supreme Court in a number of cases; as well as the Minnesota Supreme Court. He has authored several articles and 7 books.
Richard A. Saliterman is a Principal in Saliternan & Siefferman P.C., a full-service firm in Minneapolis established in 1976. Mr. Saliterman is a leading expert on corporate business matters, and is the author of several publications on business start-ups, franchises, and trademarks. Mr. Saliterman is the former National Judge Advocate for the U.S. Navy League, based in Washington D.C.
Contributing Editor:
Amanda Chang
Contributing Authors:
Alecia Anderson
Seth Back
John Baker
Shannon Berg
Constatin Burachek
Benjamin Carpenter
Ryan Check
Carl Christensen
Peter Fear
Michael Frasier
Aaron Hall
Catherine Hanson
Paul Harman
Amy Ithlan
Michael Kern
Chris Kuhlman
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