Better Boots Inc. wishes to market their products in the Far East but, although better boots has the design and manufacturing capability, the company lacks the distribution channels and knowledge of the Far East cultures necessary to marketing their products. Bill Somebody, president of Better Boots, has decided to form a partnership with Far East Boots, an Asian company. Far East boots will provide the marketing know how that Better Boots lacks. The company will be jointly owned and independently operated. Better Boots is forming a ____________ with Far East Boots.

Better Boots Inc. wishes to market their products in the Far East but, although better boots has the design and manufacturing capability, the company lacks the distribution channels and knowledge of the Far East cultures necessary to marketing their products. Bill Somebody, president of Better Boots, has decided to form a partnership with Far East Boots, an Asian company. Far East boots will provide the marketing know how that Better Boots lacks. The company will be jointly owned and independently operated. Better Boots is forming a ____________ with Far East Boots.

Better Boots Inc. wishes to market their products in the Far East but, although better boots has the design and manufacturing capability, the company lacks the distribution channels and knowledge of the Far East cultures necessary to marketing their products. Bill Somebody, president of Better Boots, has decided to form a partnership with Far East Boots, an Asian company. Far East boots will provide the marketing know how that Better Boots lacks. The company will be jointly owned and independently operated. Better Boots is forming a ____________ with Far East Boots. 




a) franchise
b) joint venture
c) licensing agreement
d) operating subsidiary







Answer: B


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