Licensing entails selling abroad,either directly or indirectly,by retaining foreign agents and distributors.It is a way that many small businesses enter the global market.

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Exporting entails selling abroad,either directly or indirectly,by retaining foreign agents and distributors.It is a way that many small businesses enter the global market.Licensing is an arrangement whereby an organization grants a foreign firm the right to use intellectual properties such as patents,copyrights,manufacturing processes,or trade names for a specific period of time.

Licensing Entails Selling Abroad,either Directly or Indirectly,by Retaining Foreign Agents