International trade law includes the appropriate rules and customs for handling trade between countries. However, it is also used in legal writings as trade between private sectors, which is not right. This branch of law is now an independent field of study as most governments has become part of the world trade, as members of the World Trade Organization (WTO). Since the transaction between private sectors of different countries is important part of the WTO activities, this latter branch of law is now very important part of the academic works and is under study in many universities across the world.
Read more about International Trade Law: Overview, World Trade Organization, Trade in Goods, Trade and Intellectual Property, Dispute Settlement
Famous quotes containing the words trade and/or law:
“The last job I had, I had to take it out in trade and this is no butcher shop—not yet, anyhow!”
—Robert Pirosh, U.S. screenwriter, George Seaton, George Oppenheimer, and Sam Wood. Dr. Hugo Z. Hackenbush (Groucho Marx)
“We accept and welcome ... as conditions to which we must accommodate ourselves, great inequality of environment; the concentration of business, industrial and commercial, in the hands of a few; and the law of competition between these, as being not only beneficial, but essential for the future progress of the race.”
—Andrew Carnegie (1835–1919)