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Just starting out in the International Law field? A basic knowledge of the terms of art is key to impressing your client or managing partner with your ability to handle International Law matters competently. Read on for a quick primer!
Anti-Dumping and Countervailing Duty: The U.S. antidumping and countervailing-duty (AD/CVD) laws penalize certain pricing and subsidy practices by foreign producers and governments. Over time, the AD/CVD laws have developed into a general source of protection for U.S. industries from foreign competition.
CISG: Convention of International Sale of Goods: The CISG is the United Nations Convention on Contracts for the International Sale of Goods, the uniform international sales law of countries that account for two-thirds of all world trade.
Counterfeiting and Piracy: International Counterfeiting and piracy cost the U.S. economy between $200 – $250 billion per year, a total of 750,000 American jobs, and pose a real threat to consumer health and safety. Individual companies and industries have unsuccessfully tried to fight this problem on their own.
International Arbitration/ADR: Alternatives to litigation that allow disputing parties to avoid the complexities of cross-border court systems to have disputes decided by independent arbitrators/mediators.
WTO: The World Trade Organization is a global international organization dealing with the rules of trade between nations. At its heart are the WTO agreements, negotiated and signed by the bulk of the world’s trading nations and ratified in their parliaments. The goal is to help producers of goods and services, exporters, and importers conduct their business.