Real-World Scenarios
A country holds elections, protects free speech, and allows protests
Democracy
I protect inventions, brand names, and creative works
Intellectual Property Rights (IP)
A foreign company loses its factory without payment
Confiscation
This legal system uses detailed written laws and codes
The government owns most resources and plans production
Centrally Planned Economy
A government shuts down media, punishes opposition, and controls businesses
Totalitarianism
I am property that cannot be physically touched but has value
Intellectual Property
A government slowly forces a company to become locally owned
Nationalization
This system bases law on religious teachings
Theocratic Law
Private individuals control most businesses and resources
Market Economy
A company avoids investing in a country due to unstable leadership
Political Risk
I am when a government takes over a business but still compensates the owner
Expropriation
A firm must use mostly local workers or materials to operate
Local Content Requirements
In this system, contracts tend to be longer due to many possible interpretations
Common Law
Both government and private sector share control of resources
Mixed Economy