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This casebook concentrates on the particular legal issues that arise from the growing practice area of emerging markets. It prepares the student for the special problems encountered when working in countries with great business opportunities but weak legal institutions and murky business cultures, particularly corruption, possible human rights abuses, regulatory expropriation, uncertain property rights and government authorizations, and poor dispute resolution and law enforcement mechanisms. The book combines substantial introductory text with a series of problems derived from practice. Cases are used principally as a source of problems rather than as a source of law, and there is substantial analysis of legislative and regulatory materials. The book facilitates organization of students into teams to address particular problem-solving exercises, not unlike a business school class but with a focus on the legal aspects of the problem.