Owning a Business Is a Risky Affair
Written by ABC AUDIO on October 2, 2022
Owning a business is a risky affair, wherever you are. And if you are looking to expand beyond borders, you need to make a seamless transition. Learning the laws applicable in the foreign land is crucial. Perhaps you are a Calgary business going overseas or a brand from abroad, entering the Canadian market. Business Is a Risky Affair Either way, you should understand the local laws, which means you need legal assistance. An international contract lawyer Calgary who understands different industries can help you smoothly navigate these uncharted waters. .
How Can Your Lawyer Help Draft International Contracts?
As with drafting contracts regarding domestic businesses, international business and trade agreements also have several legal considerations. Furthermore, they are more complex, and the language involved can cause misunderstanding if it is not clear. You could also face cultural and geographic differences that alter the meaning of the text. Hence, it is always wise to retain an attorney familiar with international contracts.
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Contract Dispute Resolution
If you are a local entrepreneur and have an agreement with another business from Calgary, resolving disputes is much easier. But when there are transnational relationships, you cannot look to single international trade law. Depending on the countries involved and Canada’s trade laws with them, conflict of laws arise. That means when their outlooks on a given topic are dissimilar; international disputes can be settled based on the principles like:
Party autonomy: Either party or business entity can choose what laws govern the contracts.
Good faith: All parties enter the contract and complete the tasks with a sincere effort and an honourable intent to resolve issues to get the desired outcome.
Sovereignty: The state or government has full authority and control within its borders. So, domestic laws may apply to all foreign businesses operating in the country.
Sale of Goods and Services
Transfer of goods, services, titles, and other international transactions will become straightforward with an international contract lawyer Calgary. Multiple risks associated with transfers, such as rejection, pricing issues, damage of property, enforcement of rights, etc., may need you to go to trial. If you or the other party has breached a condition of sale, that is also grounds for court action. Your lawyer can negotiate with clients on your behalf to make an offer that is mutually beneficial. In the case of court proceedings, they come fully- equipped with the legal nuances required for you to win.
International Business Standards
The products you manufacture may be sufficiently quality-checked for your country, but the standards may be different for the Canadian soil. Likewise, if you are operating from Calgary and serve the rest of the world, it is vital to recertify the products for new markets. Your lawyer can help you identify the difference and put you in touch with the right authorities for the job. They stay up-to-date with international trade-related matters and monitor regulatory changes applicable in particular areas.
Finally, international contracts are not just about agreements between establishments. You may also need to recruit employees offshore or bring your staff with you. Your attorney can also help you with business visa processing, finance opportunities, tax minimization strategies, and more.
