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38638 results in Cambridge Textbooks

Page 1529 of 1932

  • 15 - Control problems

  • from III - Applications
  • Giuseppe C. Calafiore, Politecnico di Torino, Laurent El Ghaoui, University of California, Berkeley
  • Book:
    Optimization Models
    Published online:
    28 May 2018
    Print publication:
    31 October 2014, pp 567-590

  • Summary

    Dynamical systems are physical systems evolving in time. Typically, these systems are modeled mathematically by a system of ordinary differential equations, in which command and disturbance signals act as inputs that, together with pre-existing initial conditions, generate the evolution in time of internal variables (the states) and of output signals. These kinds of model are ubiquitous in engineering, and are used to describe, for instance, the behavior of an airplane, the functioning of a combustion engine, the dynamics of a robot manipulator, or the trajectory of a missile.

    Broadly speaking, the problem of control of a dynamical system amounts to determining suitable input signals so as to make the system behave in a desired way, e.g., to follow a desired output trajectory, to be resilient to disturbances, etc. Even an elementary treatment of control of dynamical systems would require an entire text-book. Here, we simply focus on very few specific aspects related to a restricted class of dynamical systems, namely finite-dimensional, linear, and time-invariant systems.

    We start our discussion by introducing continuous-time models and their discrete-time counterparts. For discrete-time models, we highlight the connections between the input-output behavior over a finite horizon, and static linear maps described by systems of linear equations. We shall show how certain optimization problems arise naturally in this context, and discuss their interpretation in a control setting.

  • 2 - Vectors and functions

  • from I - Linear algebra models
  • Giuseppe C. Calafiore, Politecnico di Torino, Laurent El Ghaoui, University of California, Berkeley
  • Book:
    Optimization Models
    Published online:
    28 May 2018
    Print publication:
    31 October 2014, pp 21-54

  • Summary

    Le contraire du simple n'est pas

    le complexe, mais le faux.

    André Comte-Sponville

    A vector is a collection of numbers, arranged in a column or a row, which can be thought of as the coordinates of a point in n-dimensional space. Equipping vectors with sum and scalar multiplication allows us to define notions such as independence, span, subspaces, and dimension. Further, the scalar product introduces a notion of the angle between two vectors, and induces the concept of length, or norm. Via the scalar product, we can also view a vector as a linear function. We can compute the projection of a vector onto a line defined by another vector, onto a plane, or more generally onto a subspace. Projections can be viewed as a first elementary optimization problem (finding the point in a given set at minimum distance from a given point), and they constitute a basic ingredient in many processing and visualization techniques for high-dimensional data.

    2.1 Vector basics

    2.1.1 Vectors as collections of numbers

    Vectors are a way to represent and manipulate a single collection of numbers. A vector x can thus be defined as a collection of elements x1, x2, …, xn, arranged in a column or in a row. We usually write vectors in column format:

    Element xi is said to be the i-th component (or the i-th element, or entry) of vector x, and the number n of components is usually referred to as the dimension of x.

  • 9 - Exporting Through Licensing and Franchising Arrangements

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 249-281

  • Summary

    Key Concepts

  • The main forms of intellectual property (IP) rights are patents (inventions), trademarks (brand names), designs (the way a product looks) and copyright (for creative works).

  • Each country has a process for registration of patents, trademarks and designs. Some countries also require registration of copyright in some circumstances.

  • There is considerable uniformity across countries regarding the laws and registration processes for intellectual property rights. This is in part because most countries agree to meet obligations under international agreements such as the WTO Agreement on Trade-Related Aspects of Intellectual Property Rights (the TRIPS Agreement), which requires member nations to enact laws that meet certain minimal requirements for the protection of intellectual property rights.

  • An owner of intellectual property can sell its IP rights, or can retain its rights and license some or all of the rights for use by another party. If a licence is granted, it is usually done for a fee, called a royalty.

  • Franchising in many respects is a form of IP licensing arrangement. Three common types of franchising arrangements are business-format franchises, product franchises and production franchises.

  • When entering into these types of franchising arrangements in an overseas country the franchisor (the person owning the IP rights in the brand, product or process) can enter into franchise agreements with franchisees by way of master franchising, joint-venture franchising, area development agreements or by establishing a directly owned operation in the overseas country, by way of either a branch or a subsidiary.

  • Most countries have some form of regulation of franchising. In developed countries two of the most common forms of regulation are codes of conduct for franchisors, and competition and consumer protection laws.

  • The terms of a franchising arrangement are set out in an agreement between the franchisor and franchisee, and cover the obligations of each party.

  • 4 - Payment

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 78-127

  • Summary

    Key Concepts

  • A range of risks for parties to international sale of goods transactions are in part due to the parties being in different legal jurisdictions. This can render the enforcement of contractual and other rights both complex and prohibitively expensive. There are also the risks of additional costs and delays from shipping goods across borders and, in some cases, across considerable distances. Heightened risks of non-payment and non-delivery may arise if the parties have not previously dealt with each other, and have not developed a trusted business relationship.

  • A seller of goods is at risk of not being paid by the buyer for those goods, especially if there is a delay between when the goods were shipped from the port of export and their arrival in the port of import.

  • A number of payment methods can reduce the risk for the seller of non-payment and for the buyer of non-delivery of the goods after having paid for them.

  • In some cases, banks can be used as the ‘go-between’ so as to reduce the risks of non-payment.

    • What is Covered in This Chapter

    This chapter outlines:

  • The processes involved in four main methods of payment for goods in international transactions

  • Risks associated these methods

  • How these risks can be minimised.

  • 12 - Exporters and the WTO

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 339-362

  • Summary

    Key Concepts

  • The World Trade Organization (WTO) was established in 1995 and has its administrative headquarters in Geneva, Switzerland. Australia is a member of the WTO, along with 158 other member countries. Member countries are required to be a party to a number of WTO agreements that deal with reducing international barriers regarding trade in goods and services, along with setting minimum standards for the protection of intellectual property rights.

  • The WTO agreements require member countries to implement laws, regulations and administrative practices that are consistent with the requirements of the agreements. If a WTO member country believes that another member country’s laws, regulations and practices are inconsistent with the requirements of a WTO agreement, it may lodge a complaint with the WTO’s Disputes Settlements Body (DSB). If a member country is found under the DSB procedures to have acted inconsistently with its WTO obligations, certain punitive trade measures may be taken under the DSB arrangements to compel conformity with the obligations.

  • Although international traders and firms cannot bring any legal actions before the WTO, they may approach their government and request it take action under the WTO arrangements to get an offending country to comply with its WTO obligations.

  • Understanding the WTO arrangements is important for international traders to gain an appreciation of why certain national laws regarding customs tariffs, intellectual property protections and other trade related matters are formulated the way they are. In addition, the WTO obligations bring about a level of broad consistency to some laws, regulations and practices of WTO member countries.

  • 6 - Cargo Insurance

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 156-190

  • Summary

    Key Concepts

  • Goods being transported by sea, air and land are at risk of being lost or damaged. An exporter or importer is well advised to insure the goods, so as to mitigate potential financial losses.

  • As we have seen in chapter 5, even if the carrier is at fault for the loss or damage to cargo, it may well succeed in limiting the amount of its monetary liability. So even in circumstances in which the loss or damage is due to the fault of the carrier, an exporter or importer may need to recover the balance of any losses under its insurance policy, assuming it has one.

  • Insurance is, in essence, a contract between the insurer and the party taking out the insurance. However, insurance law operates differently from contract law in a number of ways.

  • Common law principles related to insurance law are varied to a greater or lesser extent by the Marine Insurance Act, which applies to marine cargo, and the Insurance Contracts Act, which applies to cargo carried by air and land.

  • An insurance contract for the carriage of cargo will often incorporate standard form terms such as the Institute Cargo Clauses. For the most part they set out the events included and excluded by the insurance cover.

    • What is Covered in this Chapter

    In this chapter the reader should gain an appreciation of:

  • The essentials of the law regarding cargo insurance contracts

  • The standard ICC and UNCTAD insurance contract terms, which are terms that may be incorporated by reference into insurance contracts

  • The Institute Cargo Clauses and the UNCTAD clauses

  • The ways in which statute law varies the common law regarding marine and non-marine cargo.

  • 10 - Exporting Through an Overseas Business Presence

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 282-311

  • Summary

    Key Concepts

  • Five main ways in which a company can establish a new or ‘greenfield’ overseas presence are through a liaison or representative office, a branch, a joint venture, a subsidiary or a strategic alliance. Each of these has a different legal structure and has different consequences for the liability of the entity establishing it, and is likely to have differing regulations imposed by the government in the overseas country.

  • An Australian business could acquire or merge with an established overseas entity.

  • Political and economic risk assessment refers to the process in which the Australian entity assesses the political, economic and security risks of undertaking business in the overseas country. This also involves assessing the effectiveness of the overseas government, the nature and extent of any corruption, foreign exchange policies and the general quality of the legal system and the rule of law.

  • Approval processes refer to the specific requirements of foreign companies intending to operate in the country. These requirements are distinct from the various licences and other requirements of both foreign and local companies alike.

  • Establishment processes refer to the legal and administrative requirements for establishing a foreign company. It also refers to any legal and administrative requirements for establishing an agency or distribution arrangement.

    • What is Covered in this Chapter

    This chapter deals with:

  • The rationale for an overseas presence to assist in overseas expansion of a business

  • Various types of entity that can be formed, and the advantages of each

  • The significance of political and economic risk assessments

  • Approval and establishment procedures

  • Operational regulations that will affect operations in the overseas country.

  • 3 - Incoterms

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 64-77

  • Summary

    Key Concepts

    Incoterms (a shortening of international commercial terms) are internationally recognised and accepted, standard-form contract terms that parties to international commercial contracts can incorporate by reference in their sales contracts.

    The International Chamber of Commerce (ICC), based in Paris, usually publishes a new set of ICC incoterms each decade. The most recently published are the 2010 ICC incoterms.

    The ICC incoterms set out the obligations of the seller and the buyer regarding issues including:

  • The buyer’s obligation to pay for the goods

  • The seller’s obligation to ensure the goods conform with the contract

  • Possibly the obligation to obtain insurance regarding the carriage of goods

  • The point in time when the risk of loss or damage to the goods passes from the seller to the buyer.

    • What is Covered in this Chapter

    This chapter deals with:

  • The range of obligations regarding delivery of the goods under a sales contract that each of the incoterms seeks to address

  • How these obligations are shared differently between seller and buyer for each of the 11 ICC incoterms

  • When it is appropriate to use each incoterm.

    • Introduction

    In a contract for the sale of goods, perhaps the most significant obligation on the seller is to arrange the delivery of goods it sells. In return, the buyer has the obligation to pay the agreed price. International sales of goods pose special problems for the seller in fulfilling its delivery obligations. These include problems that might arise regarding the transportation of the goods; clearing goods through customs in both the exporting and importing countries; the associated costs; and the point at which the risk of loss or damage to the goods passes from seller to buyer, with consequent implications for insurance. A moment’s reflection reveals that these various subparts of the delivery obligations can be combined in numerous ways, thereby making the drafting of a delivery clause in an international contract of sale a rather complex task which, if not performed well, could lead to many misunderstandings and potential disputes.

  • 7 - Customs and Anti-dumping

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 191-227

  • Summary

    Key Concepts

  • The Australian Customs and Border Protection Service is a Federal Government department responsible for the implementation and enforcement of laws regarding the import to and export of goods from Australia. The laws are designed to protect Australia from the importation of dangerous and illegal goods. They are also designed to prevent the exporting of certain goods, including goods that are important to Australia’s national heritage; goods Australia has agreed with other nations not to export because of trade sanctions; dangerous goods; and protected wildlife.

  • Australia is a member of the World Trade Organization (WTO) and is a party to the General Agreement on Trade and Tariffs (GATT). As a consequence, Australia has certain obligations regarding the imposition of import tariffs (customs duties). These include most-favoured-nation and national treatment obligations, which prohibit certain discriminatory treatment in the imposition of customs tariffs against the importation of goods from other WTO member nations.

  • Australian laws are consistent with the WTO and GATT obligations. Consequently, the Australian system for imposing customs duties on imported goods are broadly consistent with those imposed by other WTO members regarding the importation of goods into their countries.

  • WTO members, including Australia, may impose duties on certain imported goods if they are entering Australia at ‘dumped’ prices that harm Australian industry.

  • Preface

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp xi-xi

  • Summary

    We have written this book for those who want to gain an understanding of the procedural matters involved in international business transactions and their underlying legal basis. We envisage that the book will be of use to students of international business as well as Australian businesspersons who are contemplating export or import transactions. This second edition has been updated and expanded to include the many important changes that have occurred over the past eight years.

    The book commences with an introductory chapter that provides an overview of the legal and procedural matters involved in the direct export of goods and services. The following six chapters deal with the important matters of international sales law, standard terms for delivery, payment, transportation, insurance and customs. Many exporters utilise either an intermediary or an overseas presence to assist the export side of their business, and we have included chapters on the legal and procedural issues in these cases. The book also contains a chapter on licensing and franchising transactions, to reflect the rapid expansion of Australian businesses into overseas markets using these methods. The final two chapters deal with dispute resolution in international transactions. The first of these deals with matters relating to the resolution of disputes between private parties through litigation and arbitration. The final chapter discusses the resolution of disputes at the government-to-government level through the World Trade Organization from the point of view of Australian exporters and importers.

  • 2 - Contracts for the International Sale of Goods

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 18-63

  • Summary

    Key Concepts

  • The buyer and the seller in an international transaction for the sale of goods or services are invariably located in different legal jurisdictions. Consequently, the sales contract will likely be governed by the law of either the buyer’s or the seller’s jurisdiction. This can lead to transactional inefficiencies and uncertainties, as one party may be unfamiliar with the laws and legal requirements of the other jurisdiction, which governs the sales contract.

  • There have been moves internationally to bring a degree of consistency to the laws of various jurisdictions that apply to international sales contracts. One significant development is the Convention on the International Sale of Goods (CISG).

  • The CISG has been given effect in about 80 countries. This means that the laws governing the international sale of goods contracts are the same in member countries – at least to the extent set out in the CISG.

    • What is Covered in this Chapter

    This chapter:

    • Outlines the history and implementation of the CISG.

    • Explains the underlying objectives of the CISG.

    • Sets out:

    • When the CISG applies as the law of an international sale of goods contract

    • How to interpret the CISG

    • If the CISG applies –

  • how to work out whether and when a contract has been formed

  • the obligations of the buyer and the seller under the CISG

  • when and how the contract can be terminated

  • the remedies available for a harmed party.

  • 11 - Dispute Settlement

  • Justin Malbon, Monash University, Victoria, Bernard Bishop, Griffith University, Queensland
  • Book:
    Australian Export
    Published online:
    06 August 2018
    Print publication:
    30 October 2014, pp 312-338

  • Summary

    Key Concepts

  • Parties to international trade agreements generally try very hard to keep their business relationships on cooperative and friendly terms. Sometimes, though, disagreements do arise. These may occur because the parties have different views about what they had each agreed to do under the contract. Sometimes one of the parties is facing financial difficulties or difficulties in fulfilling its contractual obligations and therefore seeks to avoid the contract payment or other obligations. On some occasions the other party is just plain dishonest and disreputable.

  • In general, parties attempt to resolve their differences informally by discussing their differences and reaching compromises. Sometimes third-party assistance through mediation may be appropriate. However, particularly if the monetary stakes are high, the parties may resort to litigation or international arbitration of their dispute.

  • Litigation has some advantages and disadvantages, as does international arbitration. The cross-border nature of these disputes, resolving them and enforcing any decisions of a court or tribunal tends to be more complex and expensive than undertaking litigation or arbitration in cases in which both parties are in the same jurisdiction.

Page 1529 of 1932