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nt. The private law which is widely apllied in the international business transactionsincludes the law of the international sales, business agreements and other governing laws. The public business international law includes the convections, business trities and the agreements among the countries that entails the legal frame work within the international business jurisdiction. Many countries has created customs and tarrif laws that open up the market to the international investors. The public international business law provides the foundation for the gorvernments regulation of the international business. Careful business planning and legal practices avoid and reduce the risks involved with the international law as they affect the public and the private sectors of the business. A private law is considered when the rule of law affects the commercial transactions between two parties whereas the public law is considered in the determination of the rights and the responsibilities of the countries to one another.

Management of the International business transactions needs well entailed strategies and better implementation mechanisms due to increase in the trade risks. Today world of business has many challenges in dealing with the illegal business which do not exist. Many business firms are trying to conduct international business illegally in avoiding the taxation in various levels of the business. Handling of the foreign mergers and dealing with the illegal markets goods has been a challenge to many nations in conducting the world trade. The international law faces challenge in dealing with the unexpected differences in foreign corporate law and the evaluation of the political stability in the less stable nations. Political indifference has been an affecting the international business laws with the government giving an outline on business conduct to their respective nations. This has led to the poor economic growth internationally with the international law stressing the strategic decision making processes.

Cultural, economic, political and social factors have a great impact on the international business laws as they gives the variations in attitudes towards the law. They influence the way we do business internationally and impacts on the trade relations between the nations. There is difficulty in the Separation of the politics, foreign policies and the country trade evidently seen in the exports controls and trade sanction obligatory to foreign policy or the national security. Trade and the investment issues has also been a challenge in the international business with the occurrence of the nation's investment policies. The legal environment on which the international business is conducted has become so intense with the social economic and political forces influencing the development of the business law making processes and legal institutions. The economic environment of conducting business has greatly improved in the developing countries especially China. This is due to the increase in the multinational businesses in world developments as many countries trade with each other.

The custom and the tariffs laws enhance the business operation from the international levels allowing the firms to locate the overseseas market and facilitators in expansion of the business globally. Human rights and the international criminal law have been global issues which has affected the international business as many violators bei