The mechanism that a U.S. corporation can use to allow foreign firms to sell in restricted markets while using the original design is
A) franchising.
B) joint venture.
C) licensing.
D) subsidiary.
C) licensing.
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It is important for the CPA to consider the competence of the entity's employees because their competence bears directly and importantly upon the:
A. timing of the tests to be performed. B. comparison of recorded accountability with assets. C. achievement of the objectives of the system of internal control. D. cost/benefit relationship of the system of internal control.
Which of the following is NOT one of the consequences of globalization?
a. an increase in strategic partnerships among global business partners b. an increase in joint ventures, licensing arrangements c. the formation of global supply chains d. an increase in consolidation of businesses
Little City Company operates a public water supply system. Little must send to every household that it supplies with water an annual statement describing
A. Little's financial situation and material facts that might affect it. B. other businesses in which Little is involved and to what extent. C. parties who might be held liable if pollution problems arise. D. the source of the water, and any contaminants and health concerns.
Justin contracted with Kevin to serve as a guide for Kevin on his three-day rafting trip to Colorado. The contract was made on April 15 with the trip to begin on June 15. On May 15, Kevin notified Justin that he had changed his mind and would not be taking the trip. He also refused to pay Justin any compensation. In this case:
A) because the contract is executory, Justin has suffered no damages, and Kevin has no obligation to pay any compensation. B) Kevin has anticipatorily repudiated the contract and is liable to Justin for damages. C) Justin is discharged from his duty to serve as guide, but he must wait until after June 15 to bring suit against Kevin. D) All of these.