Advising Minnesota Corporations and Other Business Organizations - 2nd Edition - Hardcover
Advising Minnesota Corporations and Other Business Organizations - 2nd Edition - Electronic
INTERNATIONAL LAW ISSUES
§ 71.01 Introduction
The issues raised when dealing with international business
relationships can be complex. Usually, the financial investment involved
for the parties to a transaction will be larger than for a purely domestic
transaction. The costs of travel, communications, translation, and
additional legal, accounting, and banking fees all add up quickly.
Therefore, it is critical to the success of any venture involving foreign
parties for American legal counsel or their client to make a thorough
analysis of the potential costs involved and the potential legal issues
raised before embarking on a course of action.
The goal of the counsel to an individual or organization intending to
do business overseas must be to avoid problems from the outset. This can
only be achieved by attempting to ensure that whatever agreements are
concluded by the parties will be enforceable and binding under the
applicable forum laws and that there are no hidden liabilities or traps. For
example, the simple act of appointing an agent in Thailand may have
completely unforeseen consequences to the tax liability of a corporation
because Thailand has, in the past, taken the position that the
establishment of a representative of a foreign organization in Thailand
exposes that organization to Thai tax, even against income earned
outside of Thailand.
Notwithstanding the above, the world is increasingly moving toward
a globalization of trade and economies. International trade is increasing
and will continue to increase. New market opportunities opened by the
North American Free Trade Agreement (NAFTA) and in the former
Soviet Union offer great opportunities for Minnesota business.
Therefore, it is critical for counsel to have, at the very least, a basic
understanding of the most common and significant legal issues that will
Roger J. Magnuson is a Partner at Dorsey and Whitney, LLP, where he serves as Head of the National Strategic Litigation Group and has practiced since 1973. He has been recognized as one of the top trial lawyers in the United States by major national and international publications, including Chambers International Guide to American Lawyers, which profiles the top 500 trial lawyers in the United States, Best Lawyers in America, Who's Who in American Law, and Who's Who in America. Mr. Magnuson was also recognized by a Journal of Law and Politics' survey for Judge's Choice "Wins Most Cases."
Some high profile cases that he has litigated include representation of the Florida Senate in the Bush v. Gore election controversy in 2000; and representation of the Plaintiffs in the widely publicized and studied Mall of America case. For several years he has represented, among other persons and entities, the Minnesota Twins and Major League Baseball principals and players in litigation; and has litigated national and local cases in federal and state court venues. He has appealed before the Supreme Court in a number of cases; as well as the Minnesota Supreme Court. He has authored several articles and 7 books.
Richard A. Saliterman is a Principal in Saliternan & Siefferman P.C., a full-service firm in Minneapolis established in 1976. Mr. Saliterman is a leading expert on corporate business matters, and is the author of several publications on business start-ups, franchises, and trademarks. Mr. Saliterman is the former National Judge Advocate for the U.S. Navy League, based in Washington D.C.