Ch13 and 11

3. arrangement in which a licensor grants the rights to intangible property to the licensee for a specified period and receives a royalty fee in return, disadvantage – no tight controls
6. money was backed by gold
7. 1944 managing currency and monitoring monetary system, under this system devaluations couldn’t occur over 10% unless approved by IMF
10. maintaining currency
11. Change in dollar amount trading currency v
12. agreed amount of exchange
14. a type of wholly owned subsidiaries- an established enterprises
17. system under the exchange rate converting one to another is
18. establishing a firm that is jointly owned by two or more otherwise independent firms

1. subsidiary in which the firm owns 100 percent of the stock (most costly method)
2. How big you are entering
4. after deciding to enter, next comes how to enter
5. How/Where are Exchange Rates Determined?
8. letting the market decide the rate
9. specialized form of licensing in which the franchiser sells intangible property to the franchise and insists on rule to conduct business
13. attaching currency to another currency
15. entry is early when firm enters a market before other foreign firms and late when firms enters after other international business have established themselves
16. sales of products produced in one country to residents in another