The market entry strategy in which a firm entering a new market pools its resources with those of a local firm to form a new company in which ownership, control, and profits are shared is called:

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A joint venture is a market entry strategy in which two or more firms pool their resources to create a new company in which ownership, control, and profits are shared. This allows the firms to benefit from the local knowledge and resources of the local partner, while mitigating the risks and costs of entering a new market individually. Licensing involves granting permission to use a firm's intellectual property, direct investment involves establishing a wholly owned subsidiary in the new market, strategic alliances involve collaboration between firms without the creation of a new company, and franchising involves granting rights to use a firm's business model and brand.

The Market Entry Strategy in Which a Firm Entering a New