Commercial bribery may be defined as funds exchanged for the purpose of soliciting, maintaining or fostering business, and it is illegal in the United States under the FCPA (Foreign Corrupt Practices Act). Engaging in commercial bribery can make a company liable to criminal prosecution – DigitalOlympus.com presents tips to avoid commercial bribery.
Long Island, NY -- (SBWIRE) -- 02/18/2013 -- Under the FCPA, a business registered in the USA and engaging in commercial bribery is liable to criminal prosecution even when operating outside the boundaries of the United States. The implications of this are far-reaching, and businesses can protect themselves and their interests from commercial bribery by employing effective business intelligence measures.
Business intelligence allows the business to stay safe when confronted with commercial bribery. The idea that one must engage in commercial bribery to enjoy high levels of business success in non-transparent and corrupt markets is very prevalent, and first-time market entrants may become exposed to that notion, although to their detriment in the long term.
It is possible to do business legitimately and make significant profits even in corrupt environments by taking proper due diligence measures. Wise businesses always include anti-corruption steps as part of a comprehensive business intelligence strategy. Conducting investigations and due diligence on existing governments, protocols, business partners, employees and competing companies can make businesses make the correct strategic decisions when operating overseas.
"Commercial bribery may seem as a rite of passage in foreign markets but it can ruin your business. Protecting your business from commercial bribery can be difficult in certain terrains, and may even retard the growth of your business in fast-moving corrupt markets, but it pays in the long run," said a report collaborator.
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