In today's age of globalization, with high availability of information, knowledge, goods, and services, but also extremely strong competition, to succeed on a demanding market, every entrepreneur should pay some attention to the international trade. International trade gives the possibility of importing necessary resources which are not available or are more expensive on a domestic market, as well as placing goods and services on an international market, where better prices and higher demands can be found. Also, international trade is closely related to Incoterms conditions of interpretation of trading terms of International chamber of commerce which enable the exchange of goods between the sellers and the buyers and make it easier by regulating economic and legal relations among all the participants of the international trade system. In this paper, theories of international trade and entrepreneurship are explained, as well as their historical development. The concept, purpose, and aims of Incoterms are analyzed, together with its structure and basic features to which exporters and importers need to pay attention. Organizations and agreements in international-trade managements are also presented, and functioning of international trade in various conditions, such as state od economy, availability of resources and relations between offer and demand for a product, is explained.