Global Connection - September 2009
A major issue in developing global trade is the employer-employee relationship. Before a company decides to enter a foreign market, it must have a clear understanding of employment law issues. Such issues may impact the employment relationship between the company and its agent in a foreign market. In this issue, we review the applicability of U.S. employment laws to a U.S.-based business operating in foreign markets. In addition, we review the obligations of companies to foreign workers employed within the United States.
Another important consideration is the protection of intellectual property rights abroad. Just because a company takes the necessary steps to protect these rights within the U.S., does not mean its interests are protected in other countries. In this issue, we examine the Madrid Protocol and the ability to protect a company's trademarks in multiple countries.
Finally, one of the most difficult and overlooked tasks when expanding globally is a company's legal obligation to maintain records concerning the transaction. As a company develops its Foreign Transaction Policy, it should consider the resources and requirements it has in place to maintain good recordkeeping practices. In this issue, we review the basic "5-year" recordkeeping rule that a company should consider when developing or revising its Foreign Transaction Policy.
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