According to Williamson, high-control modes of entering foreign markets should be chosen when the firm possesses transaction-specific assets.

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According to Williamson's theory of transaction cost economics, high-control modes such as joint ventures, wholly owned subsidiaries, and licensing should be chosen when firms possess transaction-specific assets. These assets are specific to a particular transaction or relationship and cannot be easily transferred to another party or used in another context. Thus, high-control modes help to protect these assets and minimize the risk of opportunism by the foreign partner.

According to Williamson, High-Control Modes of Entering Foreign Markets Should