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Foreign Corrupt Practices Act
The Foreign Corrupt Practices Act of 1977 (FCPA) (, ''et seq.'') is a United States federal law that prohibits U.S. citizens and entities from bribing foreign government officials to benefit their business interests. The FCPA is applicable worldwide and extends specifically to publicly traded companies and their personnel, including officers, directors, employees, shareholders, and agents. Following amendments made in 1998, the Act also applies to foreign firms and persons who, either directly or through intermediaries, help facilitate or carry out corrupt payments in U.S. territory. Pursuant to its anti-bribery purpose, the FCPA amends the Securities Exchange Act of 1934 to require all companies with securities listed in the U.S. to meet certain accounting provisions, such as ensuring accurate and transparent financial records and maintaining internal accounting controls. The FCPA is jointly enforced by the Department of Justice (DOJ) and the Securities and Exchange Commissi ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Commerce And Trade
Commerce is the large-scale organized system of activities, functions, procedures and institutions directly and indirectly related to the exchange (buying and selling) of goods and services among two or more parties within local, regional, national or international economies. More specifically, commerce is not business, but rather the part of business which facilitates the movement and distribution of finished or unfinished but valuable goods and services from the producers to the end consumers on a large scale, as opposed to the sourcing of raw materials and manufacturing of those goods. Commerce is subtly different from trade as well, which is the final transaction, exchange or transfer of finished goods and services between a seller and an end consumer. Commerce not only includes trade as defined above, but also a series of transactions that happen between the producer and the seller with the help of the auxiliary services and means which facilitate such trade. These auxiliar ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Protective Principle
Personal jurisdiction is a court's jurisdiction over the ''parties'', as determined by the facts in evidence, which bind the parties to a lawsuit, as opposed to subject-matter jurisdiction, which is jurisdiction over the ''law'' involved in the suit. Without personal jurisdiction over a party, a court's rulings or decrees cannot be enforced upon that party, except by comity; i.e., to the extent that the sovereign which has jurisdiction over the party allows the court to enforce them upon that party. A court that has ''personal'' jurisdiction has both the authority to rule on the law and facts of a suit and the power to enforce its decision upon a party to the suit. In some cases, territorial jurisdiction may also constrain a court's reach, such as preventing hearing of a case concerning events occurring on foreign territory between two citizens of the home jurisdiction. A similar principle is that of standing or ''locus standi'', which is the ability of a party to demonstrate to t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Stanford Law School
Stanford Law School (Stanford Law or SLS) is the law school of Stanford University, a private research university near Palo Alto, California. Established in 1893, it is regarded as one of the most prestigious law schools in the world. Stanford Law has regularly ranked among the top three law schools in the United States by '' U.S. News & World Report'' since the magazine first published law school rankings in the 1980s, and has ranked second for most of the past decade. In 2021, Stanford Law had an acceptance rate of 6.28%, the second-lowest of any law school in the country. Since 2019, Jennifer Martínez has served as its dean. Stanford Law School employs more than 90 full-time and part-time faculty members and enrolls over 550 students who are working toward their Doctor of Jurisprudence (J.D.) degree. Stanford Law also confers four advanced legal degrees: a Master of Laws (LL.M.), a Master of Studies in Law (M.S.L.), a Master of the Science of Law (J.S.M.), and a Doctor o ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Finbar Kenny
Finbar B. Kenny (3 March 1917 – 13 January 2010) was an American philatelist and businessman. Kenny worked as manager of the stamp department of Macy's. He arranged the sale of the unique British Guiana 1c magenta in 1940, and continued to look after it for the next thirty years, often being mistaken for its owner. In the 1960s, Kenny made deals with a number of the Trucial States in order to print stamps on their behalf for sale to collectors. These ''Dune Stamps'' consisted of large numbers of brightly colored stamps whose topics had little or no relationships to their issuing countries. The arrangement ended when the United Arab Emirates The United Arab Emirates (UAE; ar, اَلْإِمَارَات الْعَرَبِيَة الْمُتَحِدَة ), or simply the Emirates ( ar, الِْإمَارَات ), is a country in Western Asia ( The Middle East). It is located at t ... was formed in 1971. Today, collectors generally ignore them. In 1965, Kenny was hired ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Congress
The United States Congress is the legislature of the federal government of the United States. It is bicameral, composed of a lower body, the House of Representatives, and an upper body, the Senate. It meets in the U.S. Capitol in Washington, D.C. Senators and representatives are chosen through direct election, though vacancies in the Senate may be filled by a governor's appointment. Congress has 535 voting members: 100 senators and 435 representatives. The U.S. vice president has a vote in the Senate only when senators are evenly divided. The House of Representatives has six non-voting members. The sitting of a Congress is for a two-year term, at present, beginning every other January. Elections are held every even-numbered year on Election Day. The members of the House of Representatives are elected for the two-year term of a Congress. The Reapportionment Act of 1929 establishes that there be 435 representatives and the Uniform Congressional Redistricting Act requires t ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Honduras
Honduras, officially the Republic of Honduras, is a country in Central America. The republic of Honduras is bordered to the west by Guatemala, to the southwest by El Salvador, to the southeast by Nicaragua, to the south by the Pacific Ocean at the Gulf of Fonseca, and to the north by the Gulf of Honduras, a large inlet of the Caribbean Sea. Its capital and largest city is Tegucigalpa. Honduras was home to several important Mesoamerican cultures, most notably the Maya, before the Spanish Colonization in the sixteenth century. The Spanish introduced Catholicism and the now predominant Spanish language, along with numerous customs that have blended with the indigenous culture. Honduras became independent in 1821 and has since been a republic, although it has consistently endured much social strife and political instability, and remains one of the poorest countries in the Western Hemisphere. In 1960, the northern part of what was the Mosquito Coast was transferred from ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Chiquita Brands
Chiquita Brands International Sàrl (), formerly known as Chiquita Brands International Inc. and United Fruit Co., is a Swiss-domiciled American producer and distributor of bananas and other produce. The company operates under a number of subsidiary brand names, including the flagship Chiquita brand and Fresh Express salads. Chiquita is the leading distributor of bananas in the United States. Chiquita is the successor to the United Fruit Company. It was formerly controlled by American businessman Carl H. Lindner, Jr., whose majority ownership of the company ended when Chiquita Brands International exited a prepackaged Chapter 11 bankruptcy on 19 March 2002. In 2003, the company acquired the German produce distribution company, Atlanta AG. Fresh Express salads was purchased from Performance Food Group in 2005. Chiquita's former headquarters were located in Charlotte, North Carolina. On 10 March 2014, Chiquita Brands International Inc. and Fyffes plc announced that the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Bananagate
The Union of Banana Exporting Countries ( es, Unión de Países Exportadores de Banano or UPEB) was a cartel of Central and South American banana exporting countries established in 1974, inspired by OPEC. Its aim was to achieve better remuneration from the North American banana trade oligopoly, which consisted of three US companies. UPEB's proposal of an export tax was undermined by the U.S. oligopoly bribing Honduran and Italian officials. The UPEB cartel collapsed when bribes became public. What is referred to as the Bananagate scandal paved the way for the U.S. Congress to create the 1977 Foreign Corrupt Practices Act. History In 1974, Colombia, Costa Rica, Ecuador, Guatemala, Honduras, Nicaragua, and Panama joined in an attempt to form a banana-exporting country cartel focusing on exports to the North American market. The Philippines was the only major exporter of bananas to the United States which did not join. The market for banana exports to Europe at this time was qui ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockheed Corporation
The Lockheed Corporation was an American aerospace manufacturer. Lockheed was founded in 1926 and later merged with Martin Marietta to form Lockheed Martin in 1995. Its founder, Allan Lockheed, had earlier founded the similarly named but otherwise-unrelated Loughead Aircraft Manufacturing Company, which was operational from 1912 to 1920. History Origins Allan Loughead and his brother Malcolm Loughead had operated an earlier aircraft company, Loughead Aircraft Manufacturing Company, which was operational from 1912 to 1920. The company built and operated aircraft for paying passengers on sightseeing tours in California and had developed a prototype for the civil market, but folded in 1920 due to the flood of surplus aircraft deflating the market after World War I. Allan went into the real estate market while Malcolm had meanwhile formed a successful company marketing brake systems for automobiles. On December 13, 1926, Allan Lockheed, John Northrop, Kenneth Kay and Fred ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Aerospace
Aerospace is a term used to collectively refer to the atmosphere and outer space. Aerospace activity is very diverse, with a multitude of commercial, industrial and military applications. Aerospace engineering consists of aeronautics and astronautics. Aerospace organizations research, design, manufacture, operate, or maintain both aircraft and spacecraft. The beginning of space and the ending of the air is considered as 100 km (62 mi) above the ground according to the physical explanation that the air pressure is too low for a lifting body to generate meaningful lift force without exceeding orbital velocity. Overview In most industrial countries, the aerospace industry is a cooperation of the public and private sectors. For example, several states have a civilian space program funded by the government, such as National Aeronautics and Space Administration in the United States, European Space Agency in Europe, the Canadian Space Agency in Canada, Indian Space R ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Lockheed Bribery Scandals
The Lockheed bribery scandals encompassed a series of bribes and contributions made by officials of U.S. aerospace company Lockheed from the late 1950s to the 1970s in the process of negotiating the sale of aircraft. The scandal caused considerable political controversy in West Germany, Italy, the Netherlands and Japan. In the U.S., the scandal nearly led to Lockheed's downfall, as it was already struggling due to the commercial failure of the L-1011 TriStar airliner. Background Through the Emergency Loan Guarantee Act of 1971 the Emergency Loan Guarantee board was created to manage federally guaranteed private loans up to $250 million to Lockheed Corporation. The guarantee program would have the U.S government assume the private debt of Lockheed if it defaulted on its debts. In 1975 Lockheed did not go into default. In August 1975 the board investigated whether Lockheed violated its obligations by failing to tell the board about foreign payments made to Lockheed. On October ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Facilitating Payment
A facilitating payment, facilitation payment, or grease payment is a payment to government employees to speed up an administrative process whose outcome is already determined. Although ethically questionable, it is not considered to be bribery according to the legislation of some states as well as in international anti-bribery conventions. Dangers For legal purposes, it is distinguished from bribery, although the distinction is often blurred. Determining whether a payment is a facilitating one may be difficult and depend on the circumstances. The value of the payment is not immediately relevant, however the greater the value, the higher are chances that it will be a red flag for law enforcement. Small unofficial payments are customary and even legal in some countries, nevertheless they may present a risk of liability according to the laws of the host country. There also exists a slippery slope danger of evolving into dubious payments. Business ethics While being legal, facilitat ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
