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ng locked out from the common trade organizations. In the developing countries trade and business are incorporated with governmental and regional laws with the development agenda of the fast economic growth. International business has more ethical issues and social responsibilities with outlined corporate codes of conduct in trade transactions. The principles of international business has been affected by the intergovernmental organizations with the laws such as codes of conduct, child labor, workers rights, protection of environment and wildlife, human rights

There are a lot of added risks in the international business which includes the risk of the language and cultural differences, international hostility and political influences. The foreign legal actions and practices, trade controls and the restriction of the investment has also been an area of concern in the management of the international business laws. The major forms of the international business the importing and exporting trade, the transfer licensing agreement s and the legal protection of the patents, copyrights and other intellectual property. Active foreign investments have been developed through business mergers, acquitions and the joint ventures. The international business, trade and international licensing of the intellectual property provide the legal relationship between the international parties in conducting the international business transactions. These legal frameworks provide them with important means of foreign market entry with different level of commitment and involvement in the foreign market lifetime. The managerial challenges experienced expose the business entities to different set of legal business risks with long term economical implications.

Economic Interdependence 经济相依

Today's world economy has led to the realization of the international business as many countries have realized that they can't rely on the domestic business due to the global competition. This has enabled the interdependency of the world economically enhancing the globalization of products, services and capital markets. The economic interdependence in the world economy has been contributed by the availability of the precious natural raw resources and the technological advances increasingly opening up the free trade and available markets for imports and exports between different sovereignty. The development of the free trade and the steady movement towards economic integration among nations has led to the increased foreign investments and the industrialization promoting the international business. The interdependence has attributed to the common international laws in the business environment with the interrelated financial markets, the world wide flow of capital and the coordination of the economic policies to create a globally competitive economy.

The international law has a created comparative advantage to the economic concepts in many nations. Exporting in international business provides the business firms to reach wide range of market which requires modest capital investment and internationally recognized business laws. In the recent past the word was experiencing the legal barriers to the importing and exporting of the nation's products. The international law creates the custom regulations identifying the legal controls on the exports and imports of products between countries. Many countries engage in exporting of goods i