Legal Systems and Ethical Standards - Research Paper Example

This paper gives an in depth analysis of the legal and ethical standards in the two countries. For an international company wishing to do business in a foreign country it needs to familiarize itself with the legal and ethical standards that regulate the operations of its business line. This mainly focuses on the commercial laws which are known as the law of merchants, intellectual property, commercial paper, business association, private maritime law and bankruptcy (JURIST, 2010). The industrial property law is stipulated in The Paris Treaty and covers matters including unfair competition, trademarks, patents and industrial designs.

To incorporate a business in Greece the company must receive approval from the Chamber of Commerce and Industry, pay tax to the local tax authority and register with all other relevant bodies in the country. The legal system in the United States has led to the emergence of a capitalist market. There is free ownership of property and freedom of choice. There are unclear rules and regulations governing the business environment in the country. Joe Diver Company should get authorization from the Chamber of Commerce and Industry.

The company should file its documents with the Athens Bar Association. It should pay the deposit capital in a bank, pay capital tax on the concentration of capital to the local tax authority and obtain a tax registration number. The company should sign the Articles of Incorporation before the notary public. The company must notify manpower OAED (Office of Aboriginal Economic Development) within eight days of hiring a worker. Joe Diver Company should register with the relevant social security authorities.

For a foreign company seeking to introduce its products in Greece it must have 300,000 Euros (U. S. Commercial Service, 2010). Its labor laws must comply with those in the country and a third of the jobs created should be given to the citizens. A business