Which of the following is legal but violates most all international marketing channel agreements?

Question

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Gray markets refer to the sale of genuine branded products by unauthorized distributors or resellers who obtain them from one market and sell them in another market where they are not authorized to be sold. While gray markets may not be illegal, they violate most all international marketing channel agreements as they undermine the traditional channel relationships and pricing agreements between manufacturers and authorized distributors or dealers. Forward and backward vertical integration arrangements, decentralized and centralized integration arrangements are all legal forms of channel integration, and may even be preferred by some firms depending on their strategic goals and competitive environment.

Which of the Following Is Legal but Violates Most All