Final answer:
The legal concept affecting businesses that operate in foreign countries is jurisdiction. It is the authority given to legal bodies to enforce laws within their area, which impacts international business operations as they must comply with various legal systems. a) Jurisdiction
Step-by-step explanation:
The legal concept that affects businesses that operate in foreign countries is jurisdiction. Jurisdiction refers to the authority given to a legal body, such as a court, to adjudicate legal matters and enforce laws within a specific area or over certain types of legal cases.
Business models like sole proprietorship, partnership, and corporation have different structures and implications for them but do not directly speak to the concept of foreign legal jurisdictions. Similarly, market structures such as oligopoly and monopoly pertain to the number and size of businesses in a particular market and the competitive environment, but they do not directly deal with international legal jurisdiction.
International law recognizes state sovereignty as a principle, which means that each state has the power to govern itself without external interference. However, multinational corporations often work in a web of jurisdictions that may impact or even exert control over governments and international organizations. This reality poses both legal challenges and opportunities for businesses operating across borders.