HI5015 Legal Aspects of International Trade And Enterprise Assignment

1. What is the name of the multinational, the number of employees in and out of Australia and global headquarters?

 

2. What are the regulatory framework/s affecting the multinational company?

3. What are the treaties, conventions or agreements that have impacted on the products or services that multinational company provides in Australia?  

1. The company in focus is Benitec Biopharma Ltd which was founded in 1997 in Australia and has grown to become one of the biggest companies in Australia and also setting branches in other countries like New Zealand, United Kingdom and other big countries. It is listed in the ASX and trades by the code BLT. Its main functions are to develop the gene- silencing therapies for the treatment of life threatening diseases using the RNA-DNA interface technology. In 2006, the company was part of the group that won a Nobel Prize in medicine or physiology due to development RNA interference or the RNAi.

Through partnerships the company has been able to get the exclusive license that deals with human therapeutic research and uses. It has many collaborations and partnerships the company has been able to manufacture laboratory reagents, for research commercially and licensing agreements for transgenic animals.

It operates at the RNA interference industry which is not as widely known as the mining or the banking and finance industry but perhaps a big industry. The products produced includes the RNA interference, gene expression and licensing. The total revenue for the company was, A$ 1.464 billion while the profit of the company was A$ 4.8 billion. The number of employees is not substantially big like other companies operating in Australia. It has a

Key personalities in the company or executives include;

• • • Peter francis –Chairman
    • Greg west – chief executive officer
    • Bryann dulhunty- chief finance officer
    • Michael graham- head of discovery 

Characterizing the socio-ecological impacts of multinational

Given the increasing poverty and global inequality and rising social rejection that have been generated, large corporations seeking to build a story with which it can question its centrality in the global economy .I am convinced that companies more part of the problem are part of the solution. Generally speaking, companies rather than governments and civil society, are better prepared to be catalysts for innovation and transformation towards a sustainable world

2. Australian internationalization has a long duration, since the first foreign direct investment (FDI) in the country dates back to the time of the Empire, when it was established in sectors of public utility, such as electric power and rail transport, also in ports, Trade and finance. At the beginning of the 20th century, these investments concentrated on coffee export activities, favoring their commercialization, while also focusing on insurance and shipping (Brown, n.d.). The entry of these capitals was maintained until the end of the 1920s, once the crisis of 1929 and the consequent depression of the world economy in the 1930s ceased the flow of capital to Brazil. At that time, moreover, there were voluminous external investments in industry.

The tax regulatory frameworks allows a percentage of the profits to be cut back by the government. The tax percentage is charged at a rate of 30% on all profits for the year.

The path traced by the United States was followed by Australian companies in the 1950s and 1960s and later in the late 1970s by Japanese companies that sought to compete with that country on their own territory, as well as. Here it is important to highlight the nature of this strategy of conquering internal markets by multinational corporations in two dimensions: capital exports as a necessity for their expanded reproduction; And the definition of a global pattern of accumulation that had in the leadership of the Australian State over other capitalist states the mission to stop the Soviet advance by integrating different markets and regions under its tutelage (Dunlop, Radaelli and Dunlop, n.d.). Para the first dimension, at least since the Second Industrial Revolution At the end of the nineteenth century and the rise of monopoly capital, it was evident how internationalization, through the exportation of investments and international loans, was fundamental for capital to exceed its national limits of reproduction while preserving its value4. Thus, in addition to the finances destined for the monetary compensation of the peripheral economies oriented towards the export of commodities, FDI became essential for the expansion and multinational support of complex productive chains, establishing itself as one of the most important Pillars of imperialism. After two world wars brokered by the greatest crisis of the capitalist system, capital export again became essential to the emergence of a new world pattern of accumulation in the 1950s (Dunning, 2013).

A foreign subsidiary, when settling in a peripheral country, in addition to calculating the future potential of its market, required its shielding by means of tariff and exchange rate protection, discriminated in favor of its goods offered internally. By doing so, it guaranteed a privilege against imported goods, which were exorbitantly priced in favor of similar nationals, gaining a significant advantage over other subsidiaries that did not anticipate immobilizing investments in this region. In summary, multinational corporations In this phase they moved towards the periphery replicating their original productive structure by allying themselves with the native companies that would be their undoing (Muchlinski, 2007).

It was discovered that the chromosomes were composed mainly of proteins and nucleic acids, giving way to the inclusion of biochemistry and molecular biology as instruments to unravel the mystery of life (LANG, 2016). Oswald Avery and other researchers suggested that DNA could be the carrier molecule of genetic information and that it determines the structure and function of an organism.

3. These countries point out that it cannot be guaranteed that even if the intended use of the LMO is to be processed (instead of seed), it is not used in any other way once it has entered the country's border. In the biosafety protocol negotiations is whether the EIA decisions should be based on science or caution. Those who request that the basis for decisions be science indicate that relying on an approach that takes excessive precautions could create as a result discriminatory or non-justifiable barriers to international trade in LMOs. Those who have the opposite view, who are in favor of additional caution approaches, indicate that in the short term there will be no unambiguous and scientific evidence of the potential harm caused by LMOs.

Two young researchers, James Watson and Francis Crick, who work in the molecular biology laboratory at the University of melbourne, using x-ray crystallography methods, discovered the structure of DNA: a molecule made up of two individual strands of spinning nucleotides Together in a double helix.

This molecular DNA design gives an explanation of the conservation of genetic information and how it is transmitted to future generations (Rugman and Doh, 2008).The beginning of the enzymatic manipulation of genetic material of living beings and the emergence of molecular genetic engineering have allowed, as of 1970, the detailed, biochemical and molecular analysis of the chromosomes, which has given rise to a true biotechnological revolution Which allows us to manipulate living things through genetic engineering.

To design rational strategies for the treatment and prevention of diseases; Obtaining specialized cells in the manufacture of products of commercial and medical interest; Improvement of silvicultural and agricultural species; Recovery and conservation of ecosystems.

Resistance to pests (eg viruses, insects, etc.) and tolerance to herbicides or extreme environmental conditions (eg salinity, cold, drought, etc.). Examples of the first wave are the crops currently marketed in the world: herbicide tolerant soybeans, insect resistant maize and cotton, virus-resistant papaya, etc. Second wave: correspond to this "wave" edible transgenic crops that generate food more healthy and nutritious than conventional. Examples are rice with a high content of vitamin A, potatoes that absorb less oil, fruits of delayed maturation, hypoallergenic peanuts, potatoes with higher protein content and soybeans with a healthier fatty acid composition. 2 Based on information published on the website of the Australian Council for Information and Development of Biotechnology. . Third wave: refers to the use of vegetable crops as factories of molecules of industrial interest, Medicines, vaccines, biopolymers, etc., which is why they are often called nutraceuticals. However, this third wave is still at a very early stage of global research (Vrins and Schneider, 2012). In summary, then, it can be seen that biotechnology can and is already contributing to agriculture in the following ways: a) Increase yields. Reduce the costs of inputs and of production in general.  Develop foods with higher food quality and new features that consumers and food industries claim.  Increased environmental care through herbicide and insect resistant seeds.  Shortens the productive circle.  Expands the territorial border. Industrial Food Biotechnology although transgenic foods are commonly referred to as those coming from genetically modified plant crops (as described above), enzymes and additives obtained from recombinant microorganisms, or the same transgenic microorganisms, are also used in the processing and processing of the food. In this sense, genetic modification may involve (i) the raw material used for the preparation of the food, (ii) the microorganisms involved in the processing, or (iii) the products they manufacture and used in processing , As additives and enzymes. I. Use of transgenic plants and animals as raw material: We have already referred to the use of transgenic plants as raw material in the previous section. With regard to animal breeding, larger animals can be genetically engineered, such as Asian carp or Atlantic salmon which, by producing more amounts of growth hormone, grow three to six times faster than Normal. Farm animals with different proportions of fatty acids can also be developed, making them healthier for human consumption (Vrins and Schneider, 2012). Use of genetically modified microorganisms in food processing: Genetically modified microorganisms that could be used in the food industry since the 1990s have been used and are being developed. Some examples of these developments are: recombinant lactic bacteria resistant to bacteriophages (viruses that attack bacteria), which destroy them and prevent the normal process of ripening the cheese or make it slow and inefficient; Bread yeasts that make the dough slightly faster; Yeasts capable of better utilizing the carbohydrates present in conventional raw materials (genetically modified yeasts to metabolize a broad spectrum of sugars also help to reduce levels of pollutant waste in industrial effluents); Lactic acid bacteria (which are added to the diet), which are added to the diet of the diet. 3 DÍAZ, The Oleaginous Plant in Australia March 2003. Based on information published on the Biotechnology that allow to maintain a yogurt fresh for many weeks without the risk that it becomes acidic or bitter. Use of enzymes and additives produced by biotechnology: Some enzymes and additives used in food processing have been obtained for years using recombinant DNA techniques. For example, recombinant chymosin is now available for the manufacture of cheese (originally obtained from the calf's stomach) from genetically modified yeasts into which the gene encoding the manufacture of this enzyme has been introduced. In the food industry are also being used certain amino

Acids obtained from genetically modified organisms, and are used as additives to improve the taste of food and as dietary supplements. Animal Biotechnology Animal biotechnology has been developing during the last decades with varied objectives. One of them is related to animal health with the development of new vaccines against different swine and bovine diseases. But biotechnology has also been used to obtain genetically modified or transgenic animals, which were obtained as a result of experiments conducted in the 1980s. Among them, mice that were much larger than their normal size were obtained of the introduction of the gene encoding the rat growth hormone (Vrins and Schneider, 2012). At present, transgenic animals are used for a variety of purposes: - To help researchers identify, isolate and characterize genes, and thus understand how they work. - As models of diseases that affect man, in order to develop new drugs and new treatment strategies. - As a source of tissues and organs for transplants in humans. - To improve cattle and other animals of economic importance. - To produce milk with higher nutritional value or containing proteins of pharmaceutical importance. With respect to the latter point, it should be noted that with the advent of genetic engineering techniques, which allowed the production of transgenic animals, the possibility of using the animals for the production of recombinant proteins of pharmacological interest also arose (Vrins and Schneider, 2012). That is, these recombinant proteins can be produced in animals rather than in bioreactors or industrial fermenters. The strategy of using farm animals (sheep, cows, pigs, goats, chickens, rabbits, etc.) as factories of recombinant pharmacological products was called "Pharmacological farm", a term adapted from the concept of "Molecular Pharming" In English means farm, and in turn refers to pharmacology (pharm)). In this way, it can be seen that animal biotechnology has a beneficial impact on human health processes and that there is a close relationship between the two.

References

Brown, K. (n.d.). Taxation and development.

Dunlop, C., Radaelli, C. and Dunlop, C. (n.d.). Handbook of regulatory impact assessment.

Dunning, J. (2013). Multinationals. Routledge.

Globalisation. (2002). Watts Publishing Australia and New Zealand.

LANG, M. (2016). INTERNATIONAL ARBITRATION IN TAX MATTERS. [S.l.]: IBFD.

Muchlinski, P. (2007). Multinational Enterprises & the Law. Oxford: OUP Oxford.

Park, H. (2010). Biodiversity. [Sydney, N.S.W.]: NSW Parliamentary Library Research Service.

Rugman, A. and Doh, J. (2008). Multinationals and development. New Haven: Yale University Press.

Vrins, O. and Schneider, M. (2012). Enforcement of Intellectual Property Rights through Border Measures. Oxford University Press.