Global Connection - October 2010
A recent report by the Brookings Institution and the University of Nevada, Las Vegas detailed the opportunities for the 10 largest metro cities in the “Intermountain West,” including the major cities where Snell & Wilmer has offices, to lead the nation in export growth and increased global competitiveness. The report recognizes that the western states have the necessary services industry, intellectual property clusters and industrial specializations to propel the nation out of the Great Recession.
Snell & Wilmer continues to support efforts to increase its clients’ global trade efforts. Specifically, on August 27, 2010, Snell & Wilmer hosted a trade delegation from Japan, which visited to evaluate potential opportunities and partnerships in the southwestern United States. Snell & Wilmer has partnered with the Arizona International Growth Group to host AZIGG Grow Globally Phoenix Fair on October 26, 2010, and provide a unique walking tour of global business, organization and government resources — all together in one place. Further, Snell & Wilmer is planning World Trade Forum III in January 2011 to once again bring together the top government officials to discuss international trade developments and opportunities for businesses to continue to expand globally.
In this edition of the Global Connection, we highlight the need for companies to perform due diligence when developing a global marketplace. We present case studies on the international regulatory issues concerning the pharmaceutical and beef industries. Also, whether it be in a merger and acquisition, entering into a sales or distribution agreement that reference the INCOTERMS, handling international bankruptcy and litigation or ensuring payment without violation of anti-money laundering laws, a company faces multiple legal obstacles that should be taken into account and addressed when entering foreign markets. There is already enough market risk when a company expands globally, the legal risks should be addressed early so that the company’s competitive advantage in the new market can be maximized.