What Laws Govern Arbitration Of A Joint Venture Between...

What laws govern arbitration in the U.S.? In Russia? The case being presented indicates the establishment of a joint venture between Monarch Associates with Vladir Unlimited. The case presented indicates that before the two companies signed the agreement for the joint venture there was a need for the two of them to clearly understand the details of what they were engaging in (Gaillard, 2015). To start with, a joint venture has been defined as a type of business that involves two identical organizations forming a partnership. The two come together to engage in a single project and not to continue with their normal daily operations (Mistelis, Shore, Smit, 2010). As such, when different individuals, corporations, and partnerships come together and make a private agreement to produce, finance and sell different goods and offer similar services, they are then said to have formed a joint venture (Gaillard, 2015). As such, joint ventures have been said to be the best and the most popular ways of developing different nations for purposes of a ttracting foreign capital. The benefits and the disadvantages that are brought about by joint ventures may bring about important advantages to a region as well as being termed as destructive to the business carried out in the organizations involved. In this, some of the advantages that are associated with the formation of joint ventures include the involved organizations being in a position to access new markets and develop new distributionShow MoreRelatedEssay on M1 A3Bus212639 Words   |  3 PagesInternational Law BUS/212 Application of International Law What laws govern arbitration in the U.S.?   The law that governs arbitration in the U.S is The Federal Arbitration Act. In an arbitration contractual agreement the parties have agreed to use arbitrator or arbitration panel as opposed to a judgment entered by a court of law, so they are also giving up the right to appeal. When there is an award is entered by an arbitration or arbitration panel, it must be confirmed in a court of law. It mustRead MoreApplication of International Law1128 Words   |  5 PagesApplication of International Law By Dawn M. Engel Argosy University Business Law and Corporate Ethics Dan Adams May 28, 2014 In the United States, Calvin Coolidge signed the Federal Arbitration Act (FAA) into law in 1925, to be effective on January 1, 1926. (Wikipedia, 2014). â€Å"International commercial arbitration in Russia is governed by another statute: Law No. 5338-1 . . . It follows the UNCITRAL Model Law almost verbatim.† (Nikiforov, 2013). Both were â€Å"enacted to establish validity and