International Management Ch. 15

Front 1

Cross-border exchanges where the relationship between the focal firm and its foreign partner is governed by an explicit contract

Back 1

Contractual entry strategies in international business

Front 2

Ideas or works created by firms or indivduals such as patents, trademarks, and copyrights

Back 2

Intellectual Property

Front 3

Arrangment in which the owner of intellectual property grants another firm the right to use that property for a specified period of time in exchange for royalties or other compensation

Back 3

Licensing

Front 4

Arrangement in which the firm allows another the right to use an entire business system in exchange for fees, royalties, or other forms of compensation

Back 4

Franchising

Front 5

The legal claim through which the proprietary assets of firms and indivuals are protected from unauthorized use by other parties

Back 5

Intellectual property rights (IPRs)

Front 6

A fee paid periodically to compensate a licensor for the temporary use of its intellectual property; often based on a percentage on gross sales generated from using the licensed asset

Back 6

Royalty

Front 7

Contract in which the focal firm provides technological or management knowledge about how to design, manufacture, or deliver a product or service

Back 7

Know-how managment

Front 8

Arrangement in which an independent company is licensed to establish, develop, and manage the entire franchising network in its market and has the right to subfranchise to other franchisees, thus assuming the role of local franchisor

Back 8

Master Franchise

Front 9

Arrangment where the focal firm or a consortium of firms plans, fincances, organizes, manages, and implements all phases of a project abroad and then hands it over to a foreign customer after training local personnel

Back 9

Turnkey contracting

Front 10

Arrangement in which the firm or consortium of firms contracts to build a major facility abroad, operate it for a specified period, and then hand it over to the prject sponsor, typically the host-country government or public utility

Back 10

Build-operate-transfer (BOT)

Front 11

Arrangement in which a contractor supplies managerial know-how to operate a hotel, resort, hospital, airport, or other facility in exchange for compensation

Back 11

Management contract

Front 12

Unauthorized use, publication, or reproduction of products or services that are protected by a patent, copyright, trademark, or other intellectual property right

Back 12

Infringement of intellectual property