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There are three principal forms of transacting international business: foreign sales, licenses
or franchises, and direct foreign investment. Foreign sales are the most common and is a
transaction in which the seller supplies goods or services to the buyer. These transactions include
outright sales, purchase of foreign currency receivables, and transfers of foreign currency assets.
The advantage of foreign sales is that it allows a firm to expand rapidly in other markets without
setting up new programs from scratch. This method of expansion can be used by a firm as a
springboard before investments in foreign countries. The disadvantages of this method are that the
seller must assume all possible liability and loss in the transaction, and no control is exercised over
the buyer in many cases. Licenses and franchises are also like foreign sales but only involve the
transfer of money or assets. Licenses or Franchises is where a firm sells its product or provides a
service to another firm but remains at full control of all aspects of production, distribution, and
pricing. Such agreements are more common in manufacturing industries where certain
responsibilities are assumed by the purchaser. The advantage of this a…
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