We can actually deduce here that of all the strategies for reaching global markets, licensing offers the least amount of commitment, control, risk, and profit potential.
In business, licensing is actually known as the process of obtaining permission from a company who is known as licensor in order to manufacture and sell some of their products. It can be to sell or manufacture one or more of their products within a defined market area.
The company which gets this right or license is known as the licensee and they pay royalty fee to the licensor.
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