The agreement is essential to each events and will make sure that each parties profit equitably. The cultural environment is among the crucial elements of the international business surroundings and some of the difficult to understand. This is as a result of the cultural setting is actually unseen; it has been described as a shared, generally held physique of general beliefs and values that decide what is true for one group, in accordance with Kluckhohn and Strodtbeck.
Licenses are granted from a licensor to a licensee for the rights to some intangible property (e.g. patents, processes, copyrights, trademarks) for agreed on compensation (a royalty cost). Many firms really feel that production in a foreign country is desirable but they do not wish to undertake this production themselves. In this situation the agency can grant a license to a international firm to undertake the production.
The major disadvantage to a licensing … Read MoreRead More »