Includes all of the business activities necessary for creating, shipping, and selling goods and services across national borders
The ability to produce a product most efficiently given all the other products that could be produced
The advantage that exists when a country has a monopoly on producing a specific product or is able to produce it more efficiently than all other countries.
Also known as outsourcing, where a foreign country produces a private-labeled good to which a domestic company then attaches its brand name or trademark
Occurs when a firm (the licensor) grants a foreign entity (the licensee) the right to produce its product, use its production processes, or use its brand name or trademark in return for a royalty fee on every unit sold
An organization gives another organization the right to use its name and operating methods.
A partnership between a domestic firm and a foreign firm or government to undertake a major project
A company owned in a foreign country by another company, called the parent company.