When a domestic company allows a foreign firm to use its brand in exchange for royalty fees,it is called a joint venture.

Name: When a domestic company allows a foreign firm to use its brand in exchange for royalty fees,it is called a joint venture.
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Question

Quizplus · Accepted Answer

A joint venture involves two or more entities coming together to create a new business entity, whereas allowing a foreign firm to use a domestic company's brand in exchange for royalty fees is a licensing agreement.

When a Domestic Company Allows a Foreign Firm to Use