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Entering Target Markets: Difference between revisions
some notes for Requirements for internationalization and Licensing and franchising
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=== Requirements for internationalization === | === Requirements for internationalization === | ||
* '''[[w:Internationalization|Internationalization]]''' has been viewed as a process of increasing involvement of enterprises in international markets. ( Wikipedia ) | |||
* Types of '''[[w:intellectual property|intellectual property]]''' | |||
Common types of intellectual property rights include [[w:patent|patent]]s, [[w:copyright|copyright]], [[w:industrial design right|industrial design right]]s, [[w:trademark|trademark]]s, [[w:trade dress|trade dress]], and in some jurisdictions [[w:trade secret|trade secret]]s. ( Wikipedia ) | |||
=== Licensing and franchising === | === Licensing and franchising === | ||
* The verb '''[[w:license|license]]''' or grant license means to give permission. The noun license refers to that permission as well as to the document recording that permission. ( Wikipedia ) | |||
* '''[[w:Franchising|Franchising]]''' is the practice of using another firm's successful [[w:business model|business model]]. The word 'franchise' is of Anglo-French derivation - from ''franc'' - meaning free, and is used both as a noun and as a (transitive) verb. | |||
:::For the franchisor, the franchise is an alternative to building '[[w:chain store|chain store]]s' to distribute goods that avoids the investments and liability of a chain. The franchisor's success depends on the success of the franchisees. The franchisee is said to have a greater incentive than a direct employee because he or she has a direct stake in the business. ( Wikipedia ) | |||
* '''Franchising''' can be described as co-operation between two legally and financially independent firms where one firm, the franchisee, pays the other firm, the franchisor, for the right to sell the franchisor’s product and/or right to use its trademarks and business format in a given location for a specific period of time. Franchising is an ongoing business relation-ship between the franchisee and the franchisor. ( Blair and Lafontaine (2011, 3-4) ) | |||
* How does the licensor make money? How does the [[w:licensee|licensee]] make money? | |||
=== Foreign direct investment === | === Foreign direct investment === | ||