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prefer a joint venture to a wholly owned subsidiary

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Under what conditions might a company prefer a joint venture to a wholly owned subsidiary when making a foreign investment?

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A joint venture is preferred in situation where a company wants to leverage on the expertise, presence or local market ...

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Under what conditions might a company prefer a joint venture to a wholly owned subsidiary when making a foreign investment?

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International Market Entry: indirect, direct, piggy-back

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Indirect or direct? Piggy-back?
If direct - franchise, joint-venture, or wholly-owned subsidiary?

Please provide sources.

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