Sears opened up department stores in Mexico and Spain,where it found qualified local manufacturers to produce many of the product it sells.This type of joint venture is known as .

Question

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The joint venture described in the scenario is known as contract manufacturing, where one company (Sears) hires a local manufacturer to produce its products. This is different from licensing, where a company grants permission for another company to use its intellectual property or technology, indirect exporting where a company uses intermediaries to sell its products in another country, management contracting where a company provides management services to another company, or joint ownership where two companies own and operate a business together.

Sears Opened Up Department Stores in Mexico and Spain,where It