You Manage a Small Canadian Company That Makes Sportswear Shirts

You manage a small Canadian company that makes sportswear shirts with a special fabric that wicks away perspiration,and yet lasts through repeated washings.It also produces a related line of home fitness equipment (barbells,small equipment,and large all-in-one home gyms retailing for several thousand dollars).Your company wants to "go global" but has little extra money to do so.About five years ago your company tried local marketing agents,but was unimpressed with the results,as the agents seemed to spend more time marketing the complete product lines from other firms,that they had represented for decades.You don't want to go down this route again.Your company's founder wants to enter a market in Central America,in the country he is from.Unfortunately,this country has very high trade barriers against apparel made in Canada.Your company is very risk averse,yet wants to go global.
From the perspective of a domestic firm,what are the advantages of licensing the rights to the company's production process and trademark to a firm in a foreign country?