What is Just Compensation? The government of any state has the power to seize private property for public use, this is done using the power of eminent domain. When governments take over private properties for public use, they are required to compensate private owners. A just compensation is the compensation that the government pays to owners of priv...

What is the Cairns Group? The Cairns Group is an interest group of 19 agriculture exporting countries.  It was established in Australia in 1986. Its major objectives include agricultural trade reform, reduction of export subsidies on agricultural products, and other agricultural issues.  The members are; Argentina, South Africa, Australia, Guatemala...

What is a Multilateral Development Bank? A multilateral development bank (MDB) refers to an international financial institution, chartered by at least two nations, in order to promote economic development and growth in poorer or less-developed countries. Important takeaways: Multilateral development banks came into existence after World War II for r...

How are private international business agreements generally enforced? The first method of enforcing ones rights pursuant to an international agreement is through a lawsuit or judicial action. When a dispute involves multiple parties from multiple countries, it becomes an issue as to how and where to handle the dispute. In the United States, the Alie...

What international courts exist and what are their functions? International courts exist as a result of an agreement between nations as to their formation and authority. The authority of the court over a country or its citizens may result from that country becoming a member of an international organization or signatory to an international agreement....

What is an Inflation Index? To simplify the task of interpreting the price levels for more realistic and complex baskets of goods, economists typically report the price level in each period as an index number, rather than as the dollar amount for buying the basket of goods. Economists create price indices to calculate an overall average change in re...

What Strategy to Pursue? Choosing a competitive strategy is not as simple as setting a course and following it. Rather, you have to take into account all of the internal and external conditions of your business and the industry. Perhaps a market exists for a differentiated, low-volume product, but not for a low-cost, high-volume product.  Likewise, ...

What is a Bail-In? A bail-in is a relief or rescue strategy offered to a financial institution that is on the verge of collapse. This relief entails that creditors, depositors or bondholders of the company or financial institution bear part of the company's burden. A bail-in differs from a bail-out. Usually, in a bail-out, a financial institution is...

What is a Purchasing Agent? Purchasing Agents buy machinery, tools, equipment, supplies, parts, or services needed for running an establishment. Raw or semi-finished materials are purchased for the purpose of manufacturing. Who Is a Purchasing Agent? A purchasing agent is an administrator who helps in selecting and purchasing goods and services. Thi...

What does it mean to Dissolve a Foreign Qualification? A foreign qualification is a business’s registration statement to carry on business in a state other than the state of formation. Registering to business as a foreign corporation in a state requires the business to update any information in the registration document that changes. The business mu...