Licensing is the easiest way to take advantage of the international division of labor. Usually, the licensor for a fee offers the right to use their production and trade secrets, trademark or patent to foreign companies, and thus it’s possible at low risk to get access to foreign markets.
Joint venture (JV) is a very popular way to get access to the international marketplace in which the company shares the ownership and production control with a local company.
Last form of an access to the international marketplace is to create own assembly or manufacturing plants, i.e. to implement the direct investment (Schaffer, 2008).
Grand, A. F. (1995). Fire standards in the international marketplace. P. 98.
Schaffer, R., Agusti, F., Earle, F. (2008). International Business Law and Its Environment. P. 530.