{"id":50,"date":"2023-11-02T06:19:33","date_gmt":"2023-11-02T06:19:33","guid":{"rendered":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/chapter\/strategies-for-governments-and-businesses-to-adapt-to-and-take-advantage-of-a-globalized-economy\/"},"modified":"2024-09-18T01:45:10","modified_gmt":"2024-09-18T01:45:10","slug":"strategies-for-governments-and-businesses-to-adapt-to-and-take-advantage-of-a-globalized-economy","status":"publish","type":"chapter","link":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/chapter\/strategies-for-governments-and-businesses-to-adapt-to-and-take-advantage-of-a-globalized-economy\/","title":{"raw":"Legal and Regulatory Environment","rendered":"Legal and Regulatory Environment"},"content":{"raw":"

Islamic Law<\/h1>\r\n\"\"\r\n\r\nSharia<\/a>\u00a0means Islamic law based on age-old concepts. Since the early Islamic states of the eighth and ninth centuries,\u00a0Sharia<\/a>\u00a0always existed alongside other\u00a0normative<\/a>\u00a0systems.<\/sup>\r\n\r\nHistorically, Sharia was interpreted by independent jurists (muftis<\/i><\/a>), based on Islamic scriptural sources and various legal methodologies.<\/sup>\u00a0In the modern era, statutes inspired by European codes replaced traditional laws in most parts of the Muslim world, with classical Sharia rules retained mainly in\u00a0personal status<\/a> laws.\u00a0<\/sup><\/sup>These laws were codified by legislative bodies which sought to modernize them without abandoning their foundations in traditional jurisprudence.<\/sup><\/sup>\u00a0The\u00a0Islamic revival<\/a>\u00a0of the late 20th century brought along calls by\u00a0Islamist<\/a>\u00a0movements for full implementation of Sharia, including\u00a0hudud<\/a><\/i>\u00a0capital punishments<\/a>, such as\u00a0stoning<\/a>, which in some cases resulted in traditionalist legal reform. <\/sup><\/sup>Some countries with Muslim minorities use Sharia-based laws to regulate\u00a0banking<\/a>,\u00a0economics<\/a>, inheritance, marriage and other governmental and personal affairs of their Muslim population. The use of Sharia in non-Muslim countries and on non-Muslims is debated.\r\n

Socialist law<\/b><\/h1>\r\nSocialist law<\/b>\u00a0or\u00a0Soviet law<\/b>\u00a0denotes a general type of\u00a0legal system<\/a>\u00a0which has been (and continues to be) used in\u00a0socialist and formerly socialist states<\/a>. It is based on the\u00a0civil law<\/a>\u00a0system, with major modifications and additions from\u00a0Marxist\u2013Leninist<\/a>\u00a0ideology. There is controversy as to whether socialist law ever constituted a separate legal system or not.[1]<\/a><\/sup>\u00a0If so, prior to the end of the\u00a0Cold War<\/a>,\u00a0socialist law<\/i> would be ranked among the major legal systems of the world.\r\n\r\n \r\n

Current list of communist countries\u00a0\u00a0<\/em><\/p>\r\n\"\"\r\n

Common Law<\/h2>\r\n
\r\n\r\nCommon law is based on the concept of precedence, which requires judges to decide a case based on prior rulings, or, at a minimum, consider the reasoning of prior judges when deciding a case with similar facts. The constraints that precedence imposes on a judge depend on court hierarchy, case relevance, and jurisdiction. As outlined by the Indiana Court System, \u201cWhen a decision is made by a higher court, the lower courts must follow it. Once a case is decided, it establishes a precedent, or a judicial decision that should be followed when a similar case comes to court. To serve as precedent for a pending case, a prior decision must have almost the same question of law and almost the same facts. If the precedent is from another area, such as another state\u2019s Supreme Court, it can be considered, but it does not have to be followed.\u201d In this way, new decisions can become a legal precedent. A binding precedent is referred to by the Latin phrase\u00a0stare decisis<\/em> or \u201clet the decision stand.\u201d Several numbers of countries practiced common law such as England and Wales, in English Canada, and in most states of the United States.\r\n\r\n<\/div>\r\n

Civil Code<\/b><\/h1>\r\nA\u00a0civil code<\/b>\u00a0is a codification of\u00a0private law<\/a>\u00a0relating to\u00a0property<\/a>,\u00a0family<\/a>, and\u00a0obligations<\/a>. A jurisdiction that has a civil code generally also has a\u00a0code of civil procedure<\/a>. In some jurisdictions with a civil code, a number of the core areas of private law that would otherwise typically be codified in a civil code may instead be codified in a\u00a0commercial code<\/a>.\r\n

List of national or regional civil codes<\/em><\/p>\r\n\"\"\r\n\r\nSource Adopted from \"Application of Sharia by country\"<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0\u00a0<\/a> , \"Socialist law\"<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a> , \"Statutory vs. Common Law\"<\/a>\u00a0by\u00a0Lumenwaymaker<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a> , \"List of national or regional civil codes \"<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a>","rendered":"

Islamic Law<\/h1>\n

\"\"<\/p>\n

Sharia<\/a>\u00a0means Islamic law based on age-old concepts. Since the early Islamic states of the eighth and ninth centuries,\u00a0Sharia<\/a>\u00a0always existed alongside other\u00a0normative<\/a>\u00a0systems.<\/sup><\/p>\n

Historically, Sharia was interpreted by independent jurists (muftis<\/i><\/a>), based on Islamic scriptural sources and various legal methodologies.<\/sup>\u00a0In the modern era, statutes inspired by European codes replaced traditional laws in most parts of the Muslim world, with classical Sharia rules retained mainly in\u00a0personal status<\/a> laws.\u00a0<\/sup><\/sup>These laws were codified by legislative bodies which sought to modernize them without abandoning their foundations in traditional jurisprudence.<\/sup><\/sup>\u00a0The\u00a0Islamic revival<\/a>\u00a0of the late 20th century brought along calls by\u00a0Islamist<\/a>\u00a0movements for full implementation of Sharia, including\u00a0hudud<\/a><\/i>\u00a0capital punishments<\/a>, such as\u00a0stoning<\/a>, which in some cases resulted in traditionalist legal reform. <\/sup><\/sup>Some countries with Muslim minorities use Sharia-based laws to regulate\u00a0banking<\/a>,\u00a0economics<\/a>, inheritance, marriage and other governmental and personal affairs of their Muslim population. The use of Sharia in non-Muslim countries and on non-Muslims is debated.<\/p>\n

Socialist law<\/b><\/h1>\n

Socialist law<\/b>\u00a0or\u00a0Soviet law<\/b>\u00a0denotes a general type of\u00a0legal system<\/a>\u00a0which has been (and continues to be) used in\u00a0socialist and formerly socialist states<\/a>. It is based on the\u00a0civil law<\/a>\u00a0system, with major modifications and additions from\u00a0Marxist\u2013Leninist<\/a>\u00a0ideology. There is controversy as to whether socialist law ever constituted a separate legal system or not.[1]<\/a><\/sup>\u00a0If so, prior to the end of the\u00a0Cold War<\/a>,\u00a0socialist law<\/i> would be ranked among the major legal systems of the world.<\/p>\n

 <\/p>\n

Current list of communist countries\u00a0\u00a0<\/em><\/p>\n

\"\"<\/p>\n

Common Law<\/h2>\n
\n

Common law is based on the concept of precedence, which requires judges to decide a case based on prior rulings, or, at a minimum, consider the reasoning of prior judges when deciding a case with similar facts. The constraints that precedence imposes on a judge depend on court hierarchy, case relevance, and jurisdiction. As outlined by the Indiana Court System, \u201cWhen a decision is made by a higher court, the lower courts must follow it. Once a case is decided, it establishes a precedent, or a judicial decision that should be followed when a similar case comes to court. To serve as precedent for a pending case, a prior decision must have almost the same question of law and almost the same facts. If the precedent is from another area, such as another state\u2019s Supreme Court, it can be considered, but it does not have to be followed.\u201d In this way, new decisions can become a legal precedent. A binding precedent is referred to by the Latin phrase\u00a0stare decisis<\/em> or \u201clet the decision stand.\u201d Several numbers of countries practiced common law such as England and Wales, in English Canada, and in most states of the United States.<\/p>\n<\/div>\n

Civil Code<\/b><\/h1>\n

A\u00a0civil code<\/b>\u00a0is a codification of\u00a0private law<\/a>\u00a0relating to\u00a0property<\/a>,\u00a0family<\/a>, and\u00a0obligations<\/a>. A jurisdiction that has a civil code generally also has a\u00a0code of civil procedure<\/a>. In some jurisdictions with a civil code, a number of the core areas of private law that would otherwise typically be codified in a civil code may instead be codified in a\u00a0commercial code<\/a>.<\/p>\n

List of national or regional civil codes<\/em><\/p>\n

\"\"<\/p>\n

Source Adopted from “Application of Sharia by country”<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0\u00a0<\/a> , “Socialist law”<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a> , “Statutory vs. Common Law”<\/a>\u00a0by\u00a0Lumenwaymaker<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a> , “List of national or regional civil codes “<\/a>\u00a0by\u00a0Wikipedia<\/a>\u00a0is licensed under\u00a0CC BY-SA 3.0<\/a><\/p>\n","protected":false},"author":28,"menu_order":3,"template":"","meta":{"pb_show_title":"on","pb_short_title":"","pb_subtitle":"","pb_authors":["nor-azma-binti-rahlin"],"pb_section_license":"cc-by-nc-sa"},"chapter-type":[],"contributor":[61],"license":[57],"class_list":["post-50","chapter","type-chapter","status-publish","hentry","contributor-nor-azma-binti-rahlin","license-cc-by-nc-sa"],"part":42,"_links":{"self":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapters\/50","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapters"}],"about":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/wp\/v2\/types\/chapter"}],"author":[{"embeddable":true,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/wp\/v2\/users\/28"}],"version-history":[{"count":2,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapters\/50\/revisions"}],"predecessor-version":[{"id":148,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapters\/50\/revisions\/148"}],"part":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/parts\/42"}],"metadata":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapters\/50\/metadata\/"}],"wp:attachment":[{"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/wp\/v2\/media?parent=50"}],"wp:term":[{"taxonomy":"chapter-type","embeddable":true,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/pressbooks\/v2\/chapter-type?post=50"},{"taxonomy":"contributor","embeddable":true,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/wp\/v2\/contributor?post=50"},{"taxonomy":"license","embeddable":true,"href":"https:\/\/openbook.ums.edu.my\/internationalmanagement\/wp-json\/wp\/v2\/license?post=50"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}