Using the Internet and the library, select two countries of your choosing, and research their laws and regulations pertaining to the settlement of disputes that arise through business transactions.Address the following questions:What are the benefits of utilizing the negotiation process first?How much power and authority could the WTO enact during this process?What are the implications of choosing private law to seek ratification? Explain.What are the ramifications of choosing the governing law? Explain.Compile your responses into a Word document of 850–1,100 words.You must reference at least 2 sources from your library research.850 – 1100How is your workload. Does this look like something you can do fairly quickly. This is actually due tonight by midnight but I will take the 10% late penalty if you think you can complete by tomorrow.