Islamic law is probably the most widely practiced theocratic legal system. It was initially a code governing moral and ethical behavior and was later extended to commercial transactions. Two other prominent theocratic legal systems are Hindu and Jewish law . Because some international companies take advantage of differences in legal systems among nations, legal differences can become ethical issues for international managers. Since there is no well-defined body of international law, several existing treaties and agreements constitute the first step toward a universal legal system.
Intellectual property is property that results from people's intellectual talent and abilities.
A patent is a right granted to the inventor of a product or process that excludes others from making, using, or selling the invention. Trademarks are words or symbols distinguishing a product and its manufacturer. Trademark protection typically lasts indefinitely. Copyrights give creators of original works the right to publish or dispose of them as they choose. Copyrights are protected either under the Berne Convention and the 1954 Universal Copyright Convention .