_______________________ are long-term,nonequity associations between a company and another in a foreign market.

Question

Quizplus · Accepted Answer

Contractual agreements, such as licensing, franchising, or management contracts, are long-term partnerships that allow a company to enter a foreign market without having to establish a physical presence or make large investments. They involve sharing knowledge, technology, or intellectual property with a local partner who assumes some of the risks and rewards of the business. Unlike joint ventures, contractual agreements do not create a new legal entity and do not entail sharing ownership or control of the venture.

_______________________ Are Long-Term,nonequity Associations Between a Company and Another in a Foreign