If a firm's core competency is based on control over proprietary technological know-how, and arrangements should be avoided if possible to minimize the risk of losing control over that technology. A. licensing; joint-ventureB. wholly owned subsidiary; exportingC. turnkey contracts; exportingD. exporting; joint-venture

The correct answer is A. licensing; joint venture.

Explanation:

A business license allows the owner the right to start and develop a particular type of business in the city, county, state or country where it is granted. It is a type of permit that implies that the company has the backing of the government to operate. Government agencies can fine or close a business that operates without a license, so you should find out if having a license is part of your process to start your business, not everyone requires a license.

Depending on the type of business you have, you may need a local, county, state or federal license or none. Where your company is located will determine what type of license you need and where to obtain it.

For its part, joint venture means business collaboration (“Joint” is joint and “venture” is company ”), it is applied when two or more companies make the decision to enter a new market or develop a business during a certain time. The purpose will be to obtain the highest possible profits from this union or association.

This kind of contracts is very well developed, for the benefits, but also the duties that entails. For example, it states that companies will share from the final objectives to the control of the common project. In addition, once signed, it will be established that the knowledge of both companies will have to be shared, whether technological, about the market, about the product, etc.