Increasingly, we hear about the global economy. Businesses are constantly looking for new markets and opportunities in other countries. Not only do they have to worry about the laws and regulations of their own countries, but they also have to worry about the laws and regulations of any country that they are trying to do business with.
The international flavor of business has really started to hit home with me personally. I work for a company that was founded and based in the DC area. Before I started working with them, they were bought by an Italian firm with interests located globally. For the most part, the company I work for has primarily done business here in the US and to a lesser degree some business in Canada.
My company actually consists of two separate parts; the retail side which I belong to and a food service side. While there was some interaction between the two sides, we pretty much worked independently of one another. The food service side of the business is how my company started, but the retail has been growing steadily.
As I said previously, the parent company in Italy has interests globally. In the majority of those interests, the retail side of the business has been separate from the food service side. In Europe, they have been consolidating the retail side of the business into an interest that is headquartered in Spain. Last year, the decision was made that our retail unit would become a part of that Spanish entity with an operating branch here in the US.
While I am not involved in the legal aspects of that integration, I can only imagine that it involves some heavy work by lawyers on both sides of the pond. With the different laws and regulations, not to mention languages, it is important that there is substantial litigation translation being done to minimize any potential negatives or pitfalls that such an endeavor can bring about.