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Required information

Ever since he was five years old, Rhett Tenna has had poor eyesight and as an eyeglass wearer he suffered through all the names that went along with it$.$ Rhett eventually switched from glasses to contacts, but he always wondered why his glasses were not fashionable. After graduation from college, Rhett set out on a lifelong goal: to make eyewear synonymous with fashion. He opened a specialty store called "The Eyes Have It$."$ His marketing plan was to remove the social stigma of wearing glasses, and replace it with a sense of flair and high fashion. From the day he opened his first store, Rhett's plan met with resounding success. Today, "The Eyes Have It$"$ has grown from that single outlet to a mediumsized company with dozens of stores located in six states, and a manufacturing plant that turns out designer frames. A recent internal audit, however, suggested a problem that Rhett had not anticipated. The study indicated that the U$.$S$.$ market is just about saturated and growth of "The Eyes Have It$"$ stores will be very limited$.$ The audit concerned Rhett until he recognized an untapped market existed overseas. If people all over the world have the same problem, the global market opportunities are fantasticl All in favor of going global say: "The Eyes Have It$"!$

Rhett spoke with a Korean company that said it might be interested in producing his products in their market. They would pay him a royalty for what they sold and would bear all the start$-$up expenses of this effort. This Korean company is proposing a$(n)$

Multiple Choice

subsidiary agreement.

joint venture.

export$-$trading company.

licensing agreement.