You would like to get your company’s product into North Korea to sell to its residents. Before you can do that, however, you need the approval of North Korean customs officials. You have learned through the grapevine that North Korean customs officials expect a direct payment from you to them to get approval. This would be an illegal bribe if it were made to a U.S. customs official, but suppose such a transaction is commonplace in North Korea.
I need help with a Business Law question. All explanations and answers will be used to help me learn.
Minimum word count od 350 words PER TOPIC.
Please submit each topic on its own seperate word documents!
Topic 1:
You would like to get your company’s product into North Korea to sell to its residents. Before you can do that, however, you need the approval of North Korean customs officials. You have learned through the grapevine that North Korean customs officials expect a direct payment from you to them to get approval. This would be an illegal bribe if it were made to a U.S. customs official, but suppose such a transaction is commonplace in North Korea.
- Do you make the payment?
- If your boss says to pay the money, should you do it?
- What potential legal problems are presented by these payments?
Topic 2:
You and three of your close friends have discussed plans to open a pizza restaurant with a delivery service. You intend to attract to your business young professionals who live and work near the downtown area and who are healthy and fitness-minded. You and your co-owners agree that each will invest equally in terms of time and money. However, in addition to contributions and “sweat-equity” made by each of you, another $400,000 is essential for the restaurant to succeed.
1. What type of organization is best suited for this business activity?
2. What steps would you take to manage the restaurant during times that you and your co-owners are not present?
3. What liabilities do you and your co-owners face?
