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Legal system governing international commercialisation and distribution: sectoral applications in goods and merchandise markets and in financial markets

12nd National Competition for Economic Research Grants

Commercial distribution

Senior Researcher : Ángel Espiniella Menéndez

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Research Centre or Institution : Universidad de Oviedo.


The project analyses the obstacles to the international commercialisation and distribution of goods, merchandise and financial products and, in particular, the disparities of state legislations in light of the lack of international and European unification of commercial law. To this end, the research methodology proposes a sectoral legal analysis in accordance with the markets in which the commercialisation and distribution activity takes place, given that, while in the case of merchandise and products it is an "unregulated market", the financial market is a regulated market in which previously authorised entities intervene.

The work plan is constructed from this sectoral analysis, including two main lines or actions. The first one would focus on the legal framework applicable to financial entities engaging in international activity, with regard to their authorisation and supervision of their commercialisation activity and possible restructuring, resolution, reorganisation or liquidation. The second is structured around the legal system governing contracts for the international commercial distribution of goods and merchandise, with regard to the negotiation, modification and performance of those contracts.

The expected results are two publications of the highest level, preferably in monograph format, whose conclusions will be communicated at different national and international scientific events. Likewise, it is hoped that the conclusions of the project will be presented to different national and international professional associations in the sector and, in particular, to the technical staff of the European Commission.

It is hoped that the impact of the project will lead to an improvement in the supervision, restructuring and resolution of the entities which commercialise financial products, and the revitalisation and simplification of contracts in the sphere of the international commercialisation and distribution of merchandise and products. More in general, it will seek a reduction in the legal obstacles that exist to the internationalisation of commercialisation and distribution in the different sectors.

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