An international licensing agreement allows foreign firms, either exclusively or non-exclusively, to manufacture a proprietor's product for a fixed term in a specific market.
What is an international trade agreement?
International trade between two or more countries is governed by trade agreements. An agreement may cover all imports and exports, a specific class of items, or only one. Approximately 320 trade agreements between the United States and several countries are currently active.
What is the purpose of international trade agreement?
The major objectives of trade agreements for the United States are to lower export barriers, safeguard American interests that compete abroad, and strengthen the rule of law in the FTA partner nation or countries. The US now has 14 Free Trade Agreements (FTAs) with 20 nations.
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