1997 Asian Financial Crisis - 4297 Words

1997 Asian Financial Crisis Angelica M. Montefalcon 4FM2 I. Introduction For about twenty years, East-Asian countries were held up as economic idols. They were hailed as the ideal models for strong economic growth of developing countries because of their high savings and investment rates, autocratic political systems, export-oriented business, restricted domestic markets, government capital allocation, and controlled financial systems. They were even stories about â€Å"The East Asian Miracle because of the extraordinary growth rates they achieved and the speed with which they have transformed themselves from poor countries into industrial powerhouses. Western leaders were impressed by their ability to continue to achieve growth rates†¦show more content†¦If investors suspect that the government will not or cannot maintain the peg, they may flee the currency; this capital flight, in turn, deletes hard currency reserves and forces the devaluation they fear. The Thai Baht was one of the Asian currencies that was pegged to the US dollars that’s why when they were no longer able to maintain their peg, Thai Baht was forced to devalue. In the previous years, they had probably kept their values low as part of their export push strategy. Almost all of the Asian economies that have been cited in the context of the Asian financial crisis have based their economic strategies on export promotion. The appreciation of the US dollars against the Asian country currencies meant a decline in the competitiveness of these East Asian countries so long as they continued to fix their currencies against the US dollars. Although at first, they kept their currency value low, they didn’t intend it to be super undervalued against the US dollars that happened during the crisis. The very large devaluation in the currencies in East Asia became a problem because of their foreign denominated debts. Domestic interest rates needed to maintain those pegs attracted short term capital and encouraged domestic firms to borrow in foreign currencies. Thai financial firms assumed it was absolutely safe to make foreign loans for their business clients. The result was a flood of cheap foreign moneyShow MoreRelated1997 Asian Financial Crisis and Hyundai Motor Corp7129 Words   |  29 PagesOutlook: 16 Asian Financial Crisis: Summary: 17 Recovery: 18 Hyundai Motor Corp Financial Analysis: Introduction: 20 Detailed Financial Analysis: 21 Equity Valuation: 24 Conclusion: 24 Case Solution: Project Valuation: 25 Input Descriptions: 25 Conclusion: 27 Exhibits: Hyundai Motor Corp Financial Statements Read MoreImpact Of The Asian Financial Crisis Of 1997 On The Region s Development1704 Words   |  7 PagesExamine the impact of the Asian Financial Crisis of 1997 on the region’s development â€Å"Since World war II, development has been the most important term used to describe economic, social and political changes in what have come to be known as Third world countries† (Zhang, 2003). The Asian financial crisis of 1997 had a major impact on the regions development as it was the end of the East Asian economic miracle, a time that showed staggering economic growth throughout the Asia Pacific. HoweverRead MoreImpact of the Asian Financial Crisis in 1997 and Effect to Latin America1875 Words   |  8 PagesImpact of the Asian Financial Crisis in 1997 and effect to Latin America Name: Institution: Date: Abstract In 1997, the Asian Financial Crisis spread rapidly all over the Asia and affected almost all the economies in the world. Prior to the Asian Financial Crisis, the Asian countries such as Thailand, Malaysia, South Korea, Indonesia, Hong Kong and Singapore experienced a remarkable growth in the economy that was considered the highest in the world. These Asian economies increased by a notableRead More1997 Asian Financial Crisis4291 Words   |  18 Pages1997 Asian Financial Crisis Angelica M. Montefalcon 4FM2 I. Introduction For about twenty years, East-Asian countries were held up as economic idols. They were hailed as the ideal models for strong economic growth of developing countries because of their high savings and investment rates, autocratic political systems, export-oriented business, restricted domestic markets, government capital allocation, and controlled financial systems. They were even stories about â€Å"The East AsianRead MoreThe Asian Financial Crisis Of 19972364 Words   |  10 Pagesthe â€Å"Asian Contagion† the East Asian financial crisis of 1997 marked a time in which multiple Asian countries fell into a recession as a result of financialization. Although the East Asian financial crisis affected over ten countries, Thailand’s economy is will first be primarily analyzed prior to the crash because it was the first economy to fall and essentially started the crisis. In retrospect, the complexity of the financial crisis has caused much debate on what actually started the crisis inRead MoreThe Asian Financial Crisis Of 19971028 Words   |  5 Pages Following the Asian financial crisis of 1997, the IMF bailout provided desperately needed funds to revive South Korea s economy but came with a caveat of strict mandates. The aftermath left sectors of its economy eviscerated, patches of its society dissolved, and sent my family on a plane to the United States. What could have been an otherwise typical American dream narrative for me, however, evolved into a lifelong aspiration toward global affairs. Reaching for a graduate study program is theRead MoreEffects of the Asian Financial Crisis on 19971006 Words   |  4 PagesThe financial crisis in many countries in Asia in 1997-1998 was an unexpected event. It was mainly because most of the Asian countries had been enjoying economic growth prior to the crisis. The crisis itself started with the devaluation of Thailand’s Baht in July 1997. The Thailand government decided to float its currency in order to defend the Baht against speculative attack, despite its fixed exchange rate system. This decision was apparently the beginning of the economic downturn of many AsianRead More1997 Asian Financial Crisis and Hyundai Motor Corp7119 Words   |  29 PagesIndustry Outlook: 16 Asian Financial Crisis: Summary: 17 Recovery: 18 Hyundai Motor Corp Financial Analysis: Introduction: 20 Detailed Financial Analysis: 21 Equity Valuation: 24 Conclusion: 24 Case Solution: Project Valuation: 25 Input Descriptions: 25 Conclusion: 27 Exhibits: Hyundai Motor Corp Financial Statements 29 Bibliography:Read MoreFactors That Caused the 1997 East Asian Financial Crisis1604 Words   |  6 PagesCaused the 1997 East Asia Financial Crisis Discuss the principal factors responsible for the East Asian currency/financial crisis of 1997. In 1997, there occurred certain shifts in expectations from the market. The regional contagion and confidence led to the East Asian financial turmoil. In 1990s, it had been reported that the microeconomic and macroeconomic businesses were not performing as expected. The local and international investors had not held enough grips into the looming financial challengesRead MoreImf As An International Financial Institution Essay1130 Words   |  5 PagesThe 1997-1998 Indonesian Economic Crises. IMF Interventions - Lessons to learn. Introduction. 1997 to1998 saw the East Asian nations of Thailand, Indonesia and South Korea engulfed in an economic and financial crises that nearly collapsed their economies. The IMF was at the center stage to help during these crises. How IMF’s assistance further deepened Indonesia’s economic crises, received heavy criticism from Political, economic and social analyst against IMF s programs and Policies in Developing

Case Management Ethical Issues Essay - 1006 Words

This paper will first discuss briefly what ethics are and provide the definition for an ethical issue. An ethical leadership issue is identified and explained for this author’s practice area. We will then identify and discuss key strategies for leadership that are pertinent to the ethical issue. Next, empirical evidence which supports the strategies discussed will be analyzed. Then, the impact and importance of the strategies will be stated. The final step will be to provide a conclusion to the reader that summarizes the content and strategies. What is ethics? According to Velasquez et al (2010), â€Å"ethics is a well-founded standard of right and wrong that prescribe what humans ought to do, usually in terms of rights, obligations,†¦show more content†¦According to an article published in Case Management Advisor (2008), education assists case managers with being as knowledgeable as possible to identify and coordinate all the resources that their patients need and continued education is an ethical responsibility of a case manager. The article also suggests that advocacy is an ethical responsibility of a case manager. When advocacy is forgotten ethical issues occur. Fraser and Strang (2004) explain that case managers must be given the tools to allow them to function in their role with confidence and competence to act as strong advocates for their patients. Support for decision making is also a key component of case management. Coffman (2001) offers key points from The Code of Professional Conduct for Case Man agers advising that case managers are guided by the principle of autonom. Case mangers achieve autonomy through advocacy. If case managers are expected to function with complete autonomy, then case managers require the assusrance that their leader ship will support them when difficult decisions have to be made, (Fraser and Strang, 2004). The concept of employer employees explains that by involving employees in developing the mission and values of the company, this allows employees feel empowered (Porter-O’Grady Malloch, 2007). By allowing the case manager to be part of the development of theShow MoreRelatedMccaskey Case Essay729 Words   |  3 PagesAnalysis: Martha McCaskey Harvard Business Review The Issue: This case focuses on Martha McCaskey. McCaskey is a relatively recent Harvard B-School grad on the fast track at Seleris Associates. She is a consultant who specializes in competitive analysis for corporations. McCaskey has been assigned as lead on project Silicon 6. She has a strong track record for delivering quality on her projects, which is why she was chosen as lead for this project. The focus of the project is to reverseRead MorePreventing Unethical Behavior in a Company1799 Words   |  7 Pagesï » ¿ Introduction The relevance of ethical behavior within an organization cannot be overstated. Regardless of the obvious need for the establishment of a strong ethical foundation within the organization, some businesses seem to shy away from the implementation of firm ethical practices. The lack of a strong ethical foundation in this case may motivate some officers of such businesses to engage in unethical behavior which could in turn end up costing the entity dearly. In this text, I discussRead MoreOrganizational Ethics934 Words   |  4 PagesEthics †¢ Identify typical ethical problems of managers. †¢ Recognize differences in ethical behavior and responsibility between an employee and a manager. Course Assignments 4. Readings †¢ Read Ch. 6 7 of Managing Business Ethics. †¢ Read this week’s Electronic Reserve Readings. 5. Learning Team Instructions †¢ Begin preparing for the Ethics in the Workplace Case Study Action Plan Presentation due in Week Five by reading one of the following case studies from Managing BusinessRead MoreEssay on Ethics in Project Management1655 Words   |  7 PagesETHICS IN PROJECT MANAGEMENT 1 ABSTRACT This essay will describe about ethics in project management which will provide us an overview of the aspects how the organizations develop the ethics in an organization and about the differences in the ethical decision making among various professionals in their given field. In order to understand various aspects of the chosen topic various literature have been examined including peer reviewed articles which have been carefully chosen. In today’s worldRead MoreThe Ethical And Management Issues1466 Words   |  6 PagesIntroduction This report will address the ethical and management issues presented in the case studies Seven Eleven, Are organisation’s exploiting ‘non-employees’ and New and challenging HRM issues in China and India. The main ethical issues raised by these case studies are cultural diversity issues, discrimination and employee working conditions. Along with these ethical issues there are also management issues outlined Corporate Greed and an issue Human resource. This resulted in loss of thousandsRead MoreSubstance Abuse On The Workplace1724 Words   |  7 Pagesmost significant issues is the increasingly common practice of drug and alcohol abuse in the workplace. Substance abuse in the workplace provides multiple ethical concerns, both from the standpoint of the employee and management. Although corporations, companies, and institutes normally have well-defined policies guiding the response procedures for suspected or known substance abuse, there are often deviations from pr acticed interventions and misinterpreted reactions to the issue. In the 21st centuryRead MorePreparing to Conduct Business Research, Res3511004 Words   |  5 Pagesand ethical considerations that need to be required for this issue. Research Question for Employee Turnover When management should find themselves with a management dilemma, they will need to do some research as to how to solve the dilemma. Part of the process of solving that dilemma is to define research questions. In order to define research questions, management must define a management question. If the management dilemma is that employee turnover seems to be high, management willRead MoreThe Plan Of Organizational And Operational Structure Of A Given Entity ( Bernard 2012 )1379 Words   |  6 Pagesinvolves many issues and especially the once that requires decisions. In a single day project/program managesr end up having made many decisions, most of which pertains to the fulfillment of the project/program objectives and organizational wellbeing. Among the decisions the project/program managesr deal with includes prominent and small, whereby the prominent decisions require deep thoughts, thus serious consideration of the critical issues may be deemed necessary, while in the latter cases project/programRead MoreThe Third Ethical Issue Of Tyco Case1695 Words   |  7 PagesThe third ethical issue in Tyco case that relate to conflict of interest is accounting fraud. Accounting fraud can be described as any act or attempt to manipulate the financial statement for financial gain. It can be one of the legal issues in this case because it consists of fraud which is unlawful in written law. The conflict of interest arises in this case because the auditors, accountants, and executives of Tyco International erode trust and their personal interest has greatly varied with theRead MoreEthical Dilemmas in Workplace1634 Words   |  7 PagesEthical Dilemmas in Workplace Personal values may conflict with ethical decision making if those personal values are different than the organizational norms of the business or institution. Constructing, and maintaining personal ethics in the workplace rests with the individual, and how willing he or she is in assimilating to the evolving cultural dynamic of the corporate world. Many times a person find their personal, cultural and/or organizational ethics conflicting and must reconcile a course of

Research Methods for Law for Formalized Curiosity- myassignmenthelp

Question: Discuss about theResearch Methods for Law for Formalized Curiosity. Answer: Research is deemed as a formalized curiosity where there is a lot of poking and prying done for a particular purpose. Under research there is a repeated search for certain aspect, for finding out some special knowledge or some different new things regarding the present facts. Legal research is a research of lawful doctrines, principles, rules, regulations, concepts and cases, along with their methodology. The key goal of legal research is to determine the policy, the nature and the purpose which govern the particular circumstance and also determine the present efficiency, adequacy, relevance or utility[1]. The examination of the legal precedents and principles which have been established by the tribunals, authorities and more importantly, the courts, is done by such bodies only that have the power of deciding upon the disputes and issues, in order to determine the scope of its application. For identifying the shortfalls of a current law or for highlighting the issues which have not b een properly addressed, for examining the need of new law of extent of modifications needed in the existing law for remedying the situation, and for identifying the strengths and weaknesses of particular aspects of law, research is undertaken[2]. There are different methods of undertaking research, which can be applied in legal research. In general, the legal research is divided into two methods, i.e., doctrinal and non-doctrinal. In the research work, there is usually a combination of both these type. When there is a research which relates to certain legal questions, issues or problems, it is deemed as doctrinal, i.e., a pure legal research or a theoretical research. Where the legal research involves study of different aspects of social problems, questions, issue or society, it is deemed as socio-legal research[3]. This study is focused on the relative benefits and the limits of the doctrinal research and that of socio-legal research method. Doctrinal research is at times referred to as an armchair research, and is deemed as crucial base of library study, due to the material which is required by the researcher could be available only in archives and libraries. It is a research of legal preposition where the pre-existing statutory provisions are analysed in addition to the present day case laws and the reasoning power of the researcher is applied[4]. Under this kind of research, different treaties, judgments, magazines, legal journals, and statutory texts amongst the other things are used and the researcher attempts to collect all the requisite material on the particular topic from these resources, after which the reasoning power is applied for the researcher to analyse the gaps, the problems and finally the conclusion is drawn. This research also involves the analysis of case laws where they are properly arranged, ordered and systematized on the basis of their legal preposition, and the study of legal institution is done through rational deduction and legal reasoning[5]. Socio-legal research method is gaining recognition as the researchers have identified the need of employing a wide variety of methods while undertaking the study of law and the legal phenomena, along with the need of being informed regarding an understanding of debates regarding the methods and theory in the mainstream social science. In the recent time period, the doctrinal legal research has been jolted as a result of changes in the political philosophy of law where the welfare states have envisaged the social economic transformation through the legal institutions and through the law, along with the functional facets and the consequential new substantive law in addition to some compelling pragmatic considerations which are raised from this particular metamorphosis. The social legal perspective studies the law as a social phenomenon of sub-discipline of sociology. And sociology of law has been defined as an empirical social science which is aimed at the design of theory which relate s to the social control[6]. There are a number of benefits and limitations of doctrinal legal research. Amongst the various advantages, some have been covered here. The first one is that the doctrinal legal research involves an analysis of the legal concepts, doctrines and principles, along with the logical ordering and also the systemizing of the legal propositions which emerges from the practical utility. This method helps in providing a quick answer towards the problems, since there is a continuous engagement of the researcher in the exposition, as well as, the analysis of the case laws and the legislations, along with the integration of judicial pronouncements and statutory provisions in a workable and coherent body of doctrine. The judges and the lawyers are provided with the tools which are required for reaching the decisions regarding the immense variety of problems, which is usually carried on a very limited time period and is disposed in a timely manner[7]. Unlike the doctrinal legal research, the empirical research takes more time for drawing conclusions. Kenneth Culp Davis has observed a key issue in this regard. In his view, there can be hundreds of years before a truly scientific answer to a particular question could be attained and in the meantime, there is a need to make certain judgments. Hence, the majority of needful thinking can be intuitive, unscientific and impressionistic which is based on insufficient data or inadequate observation or imagination/ wild guesses. The scientific findings are quite obviously based on the long term objective, but there are a number of good verdict which fall short in the scientific findings and yet are urgently needed, respectable and even valued[8]. Another key point in favour of the doctrinal legal researcher is that by analysing, the researchers try to test the logical consistency, coherence and the technical soundness of a doctrine or legal proposition. There is an intertwining of the legal doctrines/ principles with proper and sound reasoning which leads to the properly developed law. With regards to this, the classic testimony of doctrinal legal research is the laws of tort and the administrative laws evolution and development, in addition patent law. There has been a shift of 17th century law where the right of the crow was to grant the patents for different activities, included in which were inventions[9]. With the coming of the eighteenth century where there was recognition of patent law, functioning of specification in patent and processes of changes were drawn. In the 19th century, the key patent reforms were brought, where an understanding was gained on the role of competitors, patentees, and most importantly, the rol e of the person who were skilled in art[10]. The 20th century witnessed the policy role with regards to the test of the patentable subject matter and also described how the patent law generally dealt with the 20th centurys technological developments[11]. The evolution of patent law thus is a key example of this point. The next benefit which is attained through the doctrinal legal method research is that it contributes to the understanding of law, the legal processes and the legal doctrines and concepts, in a better manner so as to offer logical expositions, along with the analysis of the legal systems, doctrines and laws. These evaluations help in revealing the uncertainties and the inconsistencies of the doctrines, the legal principles and the laws. Also, a scholar who is indulged in the doctrinal legal research, in a methodical manner and with proper and convincing reasoning, is able to exhibit the ambiguities, the gaps, the loopholes and the inconsistencies in the substantive law which was being studies, along with the relevant doctrines and principles which are embedded in such laws[12]. Hence, the researcher is able to invite the legislation for relative modifications through amendments, or substitution or repealing of such legislation, where the analysed defects cannot be given away by mere modification. This makes the law more effective and more purposive. There is also comparative analysis of the identifiable lawful legislations, doctrines or concepts which belong to different systems of law through the law scholars, which further allows improvements to be brought under the doctrines, legal concepts and the law[13]. Another point which favours this is that the doctrinal researchers are able to initiate a theory which relates to a particular field of law, by logical ordering and systematizing of legal propositions which emerge from the reasoning and analysis conducted by the researcher. With time, such theoretical propositions attain support from other researchers and so, this method helps in theory building. Also, through the systematic analysis, particularly for the judicial statements, helps in predicting the future concepts based on contentions and directions which are likely to be undertaken for the future[14]. In spite of the numerous benefits highlighted above, there are limitations in the doctrinal legal research method. The first one in this regard is that the doctrine or the legal principle which is under inquiry, along with the consequential projections of the researcher, becomes subjective due to the fact that a perception is exhibited in the subject matter at hand. Hence, a different perception by another ruler cannot be ruled out. So, in doctrinal method, on the basis of the analytical skills and the reasoning power of the researcher, different projections or perceptions of the same concept can be established by different scholars. Hence, different or contradicting points can be proved with equally convincing logical reasoning[15]. Apart from this, the researcher, under this method, gathers the policies from their own experience, their reflections, case reports and the authoritative statutory material. This inquiry in the concept of law does not get the support of social values or facts. And so, the research becomes a theoretical one, which is devoid of the social facts. As a result of this, the predictions and projections of the researcher are bound to be far from reality and thus, inadequate. There is a need for the law to be an effective instrument of socio-economic transformations which require the same to be seen in the light of social values. This concept is inapt under the doctrinal research method. There is a need for the contemporary social goal oriented law, which is based on the legislative study and where the extra legal factors are considered, particularly when they play a key role, whether it is positive or negative remains irrelevant, when it comes to the shaping of the law[16]. There is also a lack of the study of factors in doctrinal research method, which is out of the legal system, but which influences the operation of law in a direct or indirect manner. At times, the prejudices and the prevailing stakes of a particular dominant social group have the power of hampering the operations and the success of law. And so, there is a need for studying such extra legal factors, the prejudices and also the interests in order to understand their contribution and their role in the law making for the same to be effective. This is both inevitable and desirable for devising proper policy oriented measures and legislatures so that such matters which can end the law are sent away. There is a sole reliance over the doctrinal research method and the prominence is only given to the traditional sources of law. And many of the judgements which go unreported, the attitudes of the lower courts, the actual practices and the administrative agencies quasi judicial power are not ex plored[17]. When it comes to the socio-legal research methods, they too have a number of benefits and limitations. This method is also referred to as non-doctrinal legal research method where the answers are sought for a range of questions which have an impact over the social performance or the social dimension of law, and the impact over the social behaviour. Hence, socio-legal research is basically a social-auditing of law[18]. Some of the advantages of these have been stated below. The first and foremost advantage of socio-legal research method is that through this method, the gaps between the social reality and the legislative goals are highlighted; thus, helping in presenting a true and fair picture of the law in action. Particularly, these highlight the gaps with regards to the practices of the adjudicators, the law enforcers and the regulators; and the under use or the use of law by the intended law beneficiaries. The regulatory body which is formed through the law has been given the power of enforcing and monitoring the law, as a result of certain apathies or bias towards the beneficiaries or their adversaries, which is professionally inactive in enforcement of law. The socio-legal research highlights the rationale behind making of the law which is symbolic, ineffective or less-effective. The extent to which the beneficiaries would be able to use the law is also revealed, along with the factors which discontinue them from using the same. The non-doctrinal legal research method, through empiricism, highlights the underlying factors or currents which discontinue them from attaining the laws benefits which are bestowed on them, and also to seek the legal redressal against the ones who prevent such from happening. Hence, the bottlenecks in the laws operation are exposed through this method[19]. The socio-legal method carries particular importance in the modern welfare states where the socio-economic transformation is envisioned through the law and so, the law is perceived as attaining socio-economic parity and justice. The social legal research assesses the role and contribution of role through empiricism for bringing the intended social results. The impact of law is assessed particularly regarding the social values, attitude and the outlook towards the changes which have been contemplated through the law which is under question. So the factors which create problems for the attainment of objective of a particular law are effectively highlighted through this research method[20]. The next advantage of this method, is an extension of the first two advantages, and this method provides expert advice, as a result of which, noteworthy feedback is given to the policy-makers and judges which helps in better interpretation, formulation and enforcement of law. It also provides an invaluable help particularly when it comes to the shaping of the legislation as per the social engineering philosophy which is followed in the modern state, and helps in making them effective instruments of the socio-economic transformation which has been planned[21]. Even though the socio-legal research has a number of advantages resulting in great potential, there are fair shares of limitations, which have to be highlighted in order to provide the right viewpoint. The very first limitation is that this method is majorly a time consuming method, apart from being a costly affair since a lot of time is spent on collecting the information from different fields. It also requires more training in employing and designing the tools of data collection, along with entailing higher commitment of energy and time for producing results which mean something, be it for the theory builders or the policy makers. This research method requires a strong base of doctrine research. So, where the researcher does not have strong doctrinal legal research, the socio-legal research becomes meaningless. And the efforts which are put into it would thus prove to be futile[22]. The next limitation of this method is that the basic tool of collection of data, particularly the observation, schedule, questionnaire and interview are not an easy task to indulge in. There is a need for specialized skill and knowledge from the very first stage, i.e., planning to the very end stage, i.e., execution. There are a number of difficulties in each of these. There is a need to have sound skill based training, for the researcher, in social science research techniques. The overall impact of this weakness is coupled with the fact that a properly trained social scientist is not able to commence social legal research as they lack the strong base of doctrinal legal research which is required, in the majority of cases. Hence, the scholars who have a strong base of legal principles and doctrinal legal research are not able to venture in socio-legal research till the time there is a proper social science research technique. So, this research method becomes almost a nightmare[23]. Another key point here is that the public opinion influences the framework and the contents of law. In the majority instances, the law attempts to change the attitude, social value and public opinion. And when such happens, it becomes difficult for a socio-legal researcher to predict the direction or course which the law needs to follow or take in a certain way, based on the sociological data. There is involvement of predictions in majority of judgments along experience and intuition of the researcher. And this would lead to the researcher going back to the doctrinal legal research[24]. From the analysis which was carried on in the previous parts, one thing becomes very clear that each of research methods, i.e., the doctrinal and the socio-legal research are two broad kinds of legal research. And when they are used in connectivity, they overcome the limitations of the other method, while retaining the advantages of both these methods. In essence, they overlap with each other, instead of being mutually exclusive. Hence, it becomes difficult to draw a pragmatic line or a sharp theoretical demarcation between the two research methods. Each method has its own advantages as the doctrinal method provides a strong theoretical background and the socio-legal method provides the present context particularly based on the perceptions of the present time. The former is proved through different researchers and the latter requires research to be undertaken on the basis of present context. The former is limited through the text becoming old and not taking into consideration the cha nges of time and the evolution of the already drawn contexts, whilst the latter requires a specific skill set to undertake the research, along with a strong doctrinal legal research. Thus, to bring true reforms to the law, there is a need for undertaking both these researchers, so that on the basis of the strong legal backing, new laws are drawn in the present context, to bring out a law, which has the best of both worlds. Bibliography Articles/ Books/ Journal Azam M, Intellectual Property and Public Health in the Developing World (Open Book Publishers, 2016) Baker J, An Introduction to English Legal History (Butterworths LexisNexis, 2002) Banakar R and Travers M, Theory and Method in Socio-Legal Research (Bloomsbury Publishing, 2005) Bhatia VK, and Wagner A, Diversity and Tolerance in Socio-Legal Contexts:Explorations in the Semiotics of Law (Routledge, 2016) Blackstone W, Commentaries on the Laws of England (Callaghan, 1872) Chakraborty D, Empirical (non-Doctrinal) Research Method and Its role in Legal Research (2015) 3(1) International Journal of Advances in Social Sciences, 23-28. Cotterrell R, Law, Culture and Society: Legal Ideas in the Mirror of Social Theory (Ashgate Publishing, Ltd., 2013) Davis KC, Behavioral Science and Administrative Law (1964) 17 Journal of Legal Education 137 at 151-52 Feenan D, Exploring the 'Socio' of Socio-Legal Studies (Springer, 2013) Hoecke MV, Methodologies of Legal Research: Which Kind of Method for What Kind of Discipline? (Bloomsbury Publishing, 2011) Hutchinson T and Duncan N, Defining and Describing What We Do: Doctrinal Legal Research (2012) 17 Deakin Law Review 83, Jain SN, Doctrinal and Non-Doctrinal Legal Research, (1975) 17 Jr of Ind Law Inst 516 Knight A, and Ruddock L, Advanced Research Methods in the Built Environment (John Wiley Sons, 2009) McEniery B, The Patentability of Non-physical Inventions: Lessons from the United States (2009) 35 Monash University Law Review 376 Verma SK, and Wani MA (eds), Legal Research and Methodology (Indian Law Institute, 2nd ed, 2001) Watkins D, and Burton M, Research Methods in Law (Routledge, 2013) Others Banakar R, and Travers M, Introduction (2017) https://ssrn.com/abstract=1511112 Chynoweth P, Legal research (2017) https://www.csas.ed.ac.uk/__data/assets/pdf_file/0005/66542/Legal_Research_Chynoweth_-_Salford_Uni..pdf Hutchinson T, The Doctrinal Method: Incorporating Interdisciplinary Methods in Reforming the Law (2015) https://www.erasmuslawreview.nl/tijdschrift/ELR/2015/3/ELR-D-15-003_006/fullscreen Snel MVR, Source-usage within doctrinal legal inquiry: choices, problems, and challenges (2014) https://www.lawandmethod.nl/tijdschrift/lawandmethod/2014/06/RENM-D-13-00003/fullscreen Vibhute K, and Aynalem F, Legal Research Methods (2009) https://chilot.files.wordpress.com/2011/06/legal-research-methods.pdf