18.2.28_Homework1.docx

Standards are intended to protect the safety or

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Standards are intended to protect the safety or health of population however theses standards my obstruct the sale of foreign products. 5) Define dumping. Dumping is charging exported products at less than their normal value, typically less than their price in the domestic or third country markets or at less than production cost. Dumping violates WTO rules because it creates unfair competition, however it is difficult to prove. 6) Briefly discuss GATT and WTO. The General Agreement on Tariffs and Trade (GATT) was signed in 1942 by twenty-three nations. It was the first major effort to reduce trade barriers systematically worldwide. GATT Created a process to reduce tariffs through continuous negotiations among member nations. In 1995 the World Trade Organization (WTO) was created and included more than one-hundred-fifty member nations. The organization operates a global system of trade rules, acts as a forum for negotiating trade agreements and settles trade disputes between its members and supports the needs of developing countries. Chapter 15 1) List types of collaborative arrangements. Management contracts, turnkey operation, licensing technology, joint venture, alliances, consortium, franchising and contract manufacturing. 2) List general motives for collaborative arrangements. General motives for collaborative arrangements include spreading and reducing costs, specialize in competencies, avoid competition, secure vertical and horizontal links, gaining knowledge, overcome legal constraints and diversify geographically. 8
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HOMEWORK ASSIGNMENT 1: CHAPTER 1-7, 15 3) List advantages and disadvantages of licensing. Advantages of licensing include receiving payment from licensee which can be used to finance business expansion. Licenses lead to profits. Licensor invests less and is able to easily and quickly expand business. Licensee has authority to use brand, logo and IP of licensor with low investment. Licensee benefits from growth and innovation. Disadvantages of licensing is that the product or technology may be copied. After license expires, licensee may not renew agreement and thus potentially become a competitor. 9
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