Influence and Role of Business Reputation (Goodwill) on the Development of International Business

Tetyana Hnatiuk ()
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Tetyana Hnatiuk: Assistant of the Department of European Law and Comparative Law, Yuri Fedkovych National University, Chernivtsi, Ukraine

Logos Universalitate Mentalitate Educatie Noutate - Sectiunea Drept/ Logos Universality Mentality Education Novelty - Section: Law, 2021, vol. 9, issue 1, 118-126

Abstract: International business historically and logically arises as a result of the development and deepening of the international division of labor and the formation of the world market. International business is becoming an all-encompassing and pervasive phenomenon of modern civilization. Although there are many examples of international business in which the partners are, on the one hand, a private firm and on the other - a government agency of another country, it is still more typical to consider either inter-firm transactions of this kind, or intra-firm - in the case of if different divisions of the firm are located in different countries and these divisions interact with each other (the most typical in this case - the so-called multinational corporations). International business is based on the ability to benefit from the benefits of interstate (intercountry) business transactions, ie the fact that the sale of this product in another country, or the establishment of a firm of one country of production in another country, or the provision of services jointly by firms etc. provide business parties with more benefits than they would have if they did business in their own countries. This is a key point not only in understanding the nature and specifics of international business itself, but also in explaining the emergence and development of international management as such. Thus, it is a question of motivation of the businessman (manager), and it developed in the context of historical development of a civilization as a whole and its economic kernel - first of all. And definitely the impact of business reputation (goodwill) on the development of such business and its prosperity.

Keywords: іnternational business; goodwill; business reputation; international firm; intangible assets; international enterprise (search for similar items in EconPapers)
JEL-codes: A23 (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:lum:rev13d:v:ix:y:2021:i:1:p:118-126

DOI: 10.18662/lumenlaw/9.1/61

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