1. Contrast the common-law family with the socialist-law family. 2. Which of the methods of engaging in international business discussed in this chapter is least risky for a foreign multinational...

1. Contrast the common-law family with the socialist-law family.

2. Which of the methods of engaging in international business discussed in this chapter is least risky for a foreign multinational company? Explain.

3. Why was the GATT Pact, creating the World Trade Organization, so important to doing international business? Explain.

4. Why is arbitration preferred to litigation as a means of resolving international business disputes? Explain.