Based on what has been discussed and using your textbook (chapter 10) answer the below questions:

1. Describe the several major forms of establishing a greater presence in a foreign market. Describe the circumstances in which each form would be most appropriate.

2. Why is a distributor often not a true ?agent?? What is the essential difference between an agency agreement and a distributorship? In what circumstances is each form more appropriate?

3. Under the common law, what are the duties of a principal? An agent? What is the difference between the actual and apparent authority of an agent?

4. Why is knowledge of intellectual property law and competition law important in a licensing situation? What are the major risks associated with licensing a foreign manufacturer to manufacture and sell in a foreign country?

5. Describe the difference between licensing and franchising. How did the authorities in Europe react to initial licensing arrangements made in that region? What is the situation today?

6. What are the major types of joint venture and what is the advantage of each?