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- most countries with varying degrees on the continuum
- importance of government's role in economic development
- Governments tends to own firms that are vital to national interest ( oil, utility, banking)
- based on tradition, precedents and customs
- based on detailed set of laws organized into codes
- based on religious teachings
foreign Corrupt Practices Act
- Illegal for US companies to bribe foreign government officials to attain or maintain business
- Requires all publicly traded companies to keep detailed records of activities in foreign countries
- But allows Speed payments or Grease payment
- these can be protected through patents, copyright, or trademarks.
- protection of intellectual property rights differs from country to country