Licensing is a more extensive form of participation in foreign markets than joint ventures.

Question

Quizplus · Accepted Answer

Licensing involves granting a foreign company the rights to produce and sell one's product in return for a fee, which is less extensive and involves less commitment and resource allocation than creating a joint venture, where two or more parties create a new business entity together, sharing in its operations, profits, and risks.

Licensing Is a More Extensive Form of Participation in Foreign