Ref Ques1 What does the Foreign Corrupt Practices Act make i

Ref Ques.1. What does the Foreign Corrupt Practices Act make illegal? Do you agree with the purpose of this law? If so, explain why. Or do you think that Congress in passing this law, exceeded its authority? State reasons to back up your opinion.

Ref Ques.2. Explain why it is important to recognize and protect IPR (Intellectual Property Rights) in the global marketplace. What could be the possible consequences if this protection is not achieved?

Solution

Ref Ques. 1:

Law: The Foreign Corrupt Practices Act (FCPA) is a United States federal law known primarily for two of its main provisions:

Purpose of the law: was enacted for the purpose of making it unlawful for certain classes of persons and entities to make payments to overseas government officers to help in getting or retaining business.

I personally agree with the purpose of the law as the intent is to dissuade US citizens from using unethical payment means to obtain or retain businesses, towards foreign officials. Though this law does not essentially put a full-stop to bribery, yet this surely has a positive impact on the business conditions. A lot of high profile bribery cases have communicated to the public that the US is serious about ethical ways of doing business in not only in their own nation but around the world.

Ref Ques. 2:

Recognizing and protecting IPR is important because: