Essay Sample on International Commercial Law

Introduction

The paper examines the implications of international commercial laws concerning the national context for selected Middle East economies. Through this, it establishes the relationship between international arbitration and the various critical factors such as intellectual property rights and international arbitration. The paper identifies that local commercial law of the states which practiced the codification methodology progress while enabling the reformation of the commercial laws which happened with the introduction of various new elements in the international commercial law. Due to this, the harmonization of the commercial laws of multiple countries took place in the twenty-first century. The paper identifies that through arbitration, the critical implication of the international commercial laws on the selected economies in the Middle East. Through arbitration, implementing international arbitration enabled the recognition for the international covenants.

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The problem statement identifies the fact that contemporary business environments encounter various challenges as a result of modernization and globalization. Among the obstacles include costs, customer expectations, cultural rifts, inconsistent moral standards, cultural differences among different other challenges. The role of the paper is to explore the implications of international commercial law. The paper also provides the meaning of international commercial law and identifies the impact of the commercial laws on the national context of the Middle East economies. These implications are critical in curbing the commercial challenges of globalization.

The first chapter of the paper is an introduction of what the paper is about. The introduction provides a dynamic view from the socio-legal perspective of the Middle East system of commercial law with the intention of outlining its weaknesses in its attempt to deal with the primary global business transactions that involve foreign parties. The introduction also states the problem and describes the objectives of the study and the research questions which the study aims to achieve. The introduction also provides the cope and justifies the validity of the study.

The literature review interprets the previously researched and published work concerning international commercial laws and its implications. The paper utilized previously published materials which were available through the internet search, library catalogs and also bibliographic databases. It was evident that the majority of the published articles focuses on the concept of arbitration with regard to international commercial law. However, the published materials fail to recognize the implications which international commercial laws has on the selected Middle East economies. The selected Middle East economies which the paper focuses on are Israel, Syria, Turkey, Iran, Saudi Arabia, Iraq, United Arab Emirates, Qatar, Cyprus, Jordan, Palestine, and Kuwait. The study will, however, focus on only three countries-Saudi Arabia, Egypt, and Israel.

The study also uses the doctrinal research methodology which involves a highly technical and detailed commentary upon a systematic description of the context of the legal doctrine. The methodology is relevant because the religion and socio-cultural factors are the primary determinants of the processes in the Middle East region. Various countries follow Sharia law. The approach is acceptable because it is concerned with interpreting cases and statutes, and the paper focuses on international commercial law which is part of the statutes. The methodology also relies on logical conclusions which may not depend on science. The paper concludes the researched materials.

Literature Review

Kumar (2019) describes the literature review as the basis and motivation for an abstract, and essential research. The primary objective of the literature review is depicted in three dimensions.

To begin with, literature review provides an analysis of the current tenets of research; therefore, it is the beginning point of identifying terminologies and information which are pertinent to an individual's study and also familiarize oneself with the subject area under research. Secondly, the literature review enables the authors to appraise the quality of the current scholarly materials critically, and also to identify the appropriate research practices and techniques. Lastly, the literature review is critical in assisting the establish the thesis in the context by determining how it differs from that of other scholars. Concerning this, it develops original contributions to the subject areas.

The objective of the current literature review is to establish the scholarly opinion in international commercial laws I the national context for the selected Middle East economies. The literature review also establishes a conceptual framework which is critical for ascertaining the essential theme of the dissertation. The research work conducted by various other scholars has also been applied as the basis for framing the research questions which were highlighted in the first chapter of this dissertation. The current literature review was undertaken on the foundation of the following research questions:

• How does commercial law affect the chosen countries' trade decisions?
• How do religion and cultural beliefs affect international commercial laws in the Middle East?
• What are the implications of commercial laws in Middle-East economies?

One of the significant topics in developing a literature review is the concept of "coverage" which is specifically concerned with the issue which should be included and excluded from the review. The inclusion criteria in the literature review ensue on the foundation of the materials which the author selects which covers the appropriate themes for examination in the dissertation. The dissertation seeks to establish the meaning of international commercial law, and also identify the impacts of commercial regulations in the national context of Middle East economies. There are various challenges in the contemporary business environments which encounter different difficulties which emerge as a result of globalization. The multiple challenges include increased expectations from the customers, cultural rifts, costs, inconsistent moral standards among various other problems.

Various governments have also cooperated to establish mutually beneficial trade policies to promote business transactions and global trade. The primary challenge in this research will be to explore the implications of international commercial law.

The next topic which the literature review will look at in the literature review is to synthesize what other scholars have already written concerning the theme, and where the idea falls in the broader context in the subject area. The component of the topic includes identifying the main terminology and gaining a historical understanding of the subject area. The materials are then critically evaluated on the qualitative basis for assessing their ambiguities and whether they assist in supporting the research outcomes that help in arriving at the conclusions. The last objective of the literature review is also to pinpoint the significance of the work produced by other scholars in the discipline under research and also validate how the dissertation differs from the current literature which handles the same issue. Literature review, therefore, fills an identified gap in research.

Overview

The Middle East countries are among the leading business market participants in the world. Various Arab countries also have their resilient share of the earth's crude oil resources. In 2012, 90% of the world's largest oil producers were from the Middle East. The area also presents various opportunities for investment, mainly due to the availability of natural resources, favorable geographic location and even competitively priced labor. The Middle East also has grown while the increasing growing young population is also integrated into the Western products in general.

Arbitration has increasingly been part of an alternative dispute resolution in the Middle East. The arbitration clauses are prominent in various types of contracts, more so in commercial agreements. It is also the preferred speediness approach, confidentiality, professionalism of specialized decision makers, and freedom of choice which regard to procedural and substantive applicable laws among various other factors. Mas-Colell (1999) explains that effectiveness is crucial in the arbitral process since it demands a vivid understanding of the diverse legal, cultural, social, and religious among other factors which affect the enforceability of arbitral awards. The elements are dissimilar one legal system to another, particularly in the Arab Middle Eastern countries. For example, there are national courts in a variety of the Islamic nations in the Middle East which have declined to initiate various foreign arbitral awards on domestic public policy frameworks such as perceptions of the Islamic law. Throsby (2001) suggests that there is a need for practitioners and foreign investors to be aware of the various issues which may affect the enforcement of the arbitration award before embarking on the various matters which may affect arbitration.

According to Throsby (2001), religion is also an essential factor which affects arbitration policies. There is a need to consider religion before embarking on the arbitration process in the states which religious beliefs influence the laws such as Saudi Arabia which uses the Islamic Sharia. There are also legislative challenges which need to be taken into consideration before arbitrating as a way of guaranteeing the implementation of the arbitral award. For instance, Egypt is a country in the Middle East that utilizes exacting arbitration rules concerning the technology licensing agreements.

Key Themes

The literature review has ascertained various themes which will thoroughly be examined in the subsequent chapters. For the literature review, the dissertation aims to identify and discuss the topics with rationality to various other academic thoughts on the subject matter.

International Commercial Law

Charnovitz (2011) defined International Commercial Law to be a collection of rules and institutions which have been nurtured and created after the Second World War with an objective of developing an orderly legal environment which regulates the international flows of goods and services. Regional trade arrangements are the essential characteristics of the twentieth century. Similarly, the contemporary multilateral system is comparatively an entirely new concept which is made possible but the post-war geopolitical context according to Mazower (2012).

It is critical to understand the concept of international commercial law in a comprehensive system of the global legal system by looking at law legal bodies as Russian nesting oils. It is also possible to note that the onset of the law bodies is actually linked to one another, and also exist alongside each other. The aspects can also overlap, and there are areas which place the relationships which need to be defined. The nesting dolls metaphor is relevant for this literature review since it allows scholars to perceive law deductively, ranging from the most considerable scope of international law to the most precise forms which law can take. It is also possible to consider the largest doll as the system of public international law. According to Mazower (2012), international law can be useful to be thought of as a...