key term - Multinational corporations (MNCs)

Definition

Multinational corporations are companies that operate in multiple countries beyond their original home country, managing production or delivering services in more than one country. They influence international laws and global economic policies due to their significant economic power and international activities.

Related terms

Globalization:

The process by which businesses or other organizations develop international influence or start operating on an international scale.

International Law:

A body of rules established by treaty or custom that governs the relations between nations.

Sovereignty:

The full right and power of a governing body over itself, without any interference from outside sources or bodies