In a World of Instant Communication,rapid Transportation,and Governments That Are

question 97

Essay

In a world of instant communication,rapid transportation,and governments that are increasingly willing to open up their markets to trade and investment,why are there so few global firms?

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Definitions:

Liability

The state of being legally responsible for something, particularly for debts or legal obligations.

Bankruptcy and Insolvency Act

Canadian law that provides the legal framework for dealing with the financial distress of individuals and businesses.

Receiver

A party appointed by a court or creditors to manage, protect, and preserve the assets and operations of a company in bankruptcy or legal distress.

Solvent

The state of being able to meet all financial obligations, possessing assets that exceed liabilities.