Entry into new markets, regardless of entry mode, typically requires extensive relationship building. In some countries, such
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Entry into new markets, regardless of entry mode, typically requires extensive relationship building. In some countries, such relationship-building includes the exchange of gifts. At the same time, many companies are bound by laws, regulations, or business associations prohibiting bribery. Bribery is an offer or the receipt of any gift, loan, fee, reward, or other advantage to or from any person as an inducement to do something dishonest or illegal. Review the most recent International Chamber of Commerce Commission report on corruption, ICC Rules of Conduct and Recommendations for Combating Extortion and Bribery. It discusses what the implications of these rules might be for gifts.
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