International law governs relations between nations and addresses issues like territorial disputes, laws of war, and human rights. It primarily concerns relations between states rather than private citizens. States are only bound by international law if they consent to and agree to abide by it. International law includes public international law, private international law, and supranational law. The main sources of international law are treaties, customary practices, and general principles recognized by nations. Secondary sources include decisions of international courts and scholarly writings.

1. INTRODUCTION TO INTERNATIONAL
BUSINESS
• Economic interdependence
• Forms of international Business:
• 1. trade: exporting and importing
• 2. international licensing of technology
• 3. foreign direct investment
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2. INTERNATIONAL LAW
• International law is the set of rules generally
regarded and accepted as binding in relations
between states and nations.
• It serves as the indispensable framework for the
practice of stable and organized international
relations.
• International law differs from national legal
systems in that it primarily concerns nations rather
than private citizens.
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3. • International law is consent-based governance.
• This means that a state member of the international
community is not obliged to abide by international
law unless it has expressly consented to a particular
course of conduct.
• This is an issue of state sovereignty.
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4. THE TERM "INTERNATIONAL LAW"
CAN REFER TO THREE DISTINCT LEGAL
DISCIPLINES:
• Public international law, which governs the relationship
between provinces and international entities. Conduct of
nations in their relationship with each other and with
individuals. Eg resolving territorial or boundary disputes.
includes these legal fields: treaty law, law of sea, international
criminal law, the laws of war or international humanitarian
law and international human rights law.
• Private international law, or conflict of laws, which addresses
the questions of (1) which jurisdiction may hear a case, and
(2) the law concerning which jurisdiction applies to the issues
in the case. Eg sales contracts, international shipping
• Supranational law or the law
of supranational organizations, which concerns regional
agreements where the laws of nation states may be held
inapplicable when conflicting with a supranational legal
system when that nation has a treaty obligation to a
supranational collective.
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5. THE TWO TRADITIONAL BRANCHES OF THE
FIELD ARE:
• jus gentium — law of nations
• jus inter gentes — agreements between nations
•
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6. SOURCES OF INTERNATIONAL LAW
• 1. Primary source
• 2. Secondary source
• Primary source:
• (a) international treaties and conventions
• (b) international custom or customary law
• (c) the general principles of law recognized by civilized
nations.
• Secondary source:
• (a) Judicial decisions of international courts and tribunals.
• (b) Scholarly writings: teachings of highly qualified jurists of
various nations.
• (c) annual surveys published by international law societies in
many countries.
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